Sanara MedTech’s (SMTI) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI) in a report released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $44.00 price target on the stock. Cantor Fitzgerald also issued estimates for Sanara MedTech’s FY2025 earnings at ($1.09) EPS.

Separately, HC Wainwright assumed coverage on Sanara MedTech in a report on Monday, December 23rd. They set a “buy” rating and a $50.00 price target for the company.

Sanara MedTech Stock Down 2.6 %

NASDAQ SMTI opened at $37.12 on Wednesday. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $40.75. The company has a market capitalization of $324.43 million, a price-to-earnings ratio of -37.49 and a beta of 1.55. The stock’s 50 day moving average is $34.70 and its two-hundred day moving average is $32.87. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76.

Sanara MedTech (NASDAQ:SMTI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. The business had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same quarter last year, the business earned ($0.13) EPS. Equities analysts forecast that Sanara MedTech will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Several hedge funds and other institutional investors have recently made changes to their positions in SMTI. JPMorgan Chase & Co. increased its position in Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after purchasing an additional 2,272 shares during the period. Barclays PLC boosted its stake in shares of Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Sanara MedTech during the 4th quarter worth approximately $898,000. State Street Corp raised its stake in shares of Sanara MedTech by 9.2% during the third quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after buying an additional 4,932 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Sanara MedTech by 4.4% in the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after buying an additional 3,755 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.