Sanara MedTech Inc. (NASDAQ:SMTI – Free Report) – Investment analysts at HC Wainwright increased their FY2024 earnings estimates for shares of Sanara MedTech in a research report issued to clients and investors on Thursday, January 23rd. HC Wainwright analyst Y. Chen now expects that the company will post earnings of ($1.15) per share for the year, up from their previous estimate of ($1.24). HC Wainwright currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.19) EPS.
Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price target on shares of Sanara MedTech in a report on Wednesday, January 22nd.
Sanara MedTech Price Performance
SMTI stock opened at $36.69 on Monday. Sanara MedTech has a 52-week low of $26.00 and a 52-week high of $40.75. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The stock has a market cap of $320.67 million, a price-to-earnings ratio of -37.06 and a beta of 1.55. The business has a fifty day moving average of $34.75 and a two-hundred day moving average of $33.01.
Sanara MedTech (NASDAQ:SMTI – Get Free Report) last announced its quarterly 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. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $21.67 million during the quarter. During the same quarter in the prior year, the business earned ($0.13) EPS.
Institutional Trading of Sanara MedTech
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after buying an additional 4,932 shares in the last quarter. Barclays PLC lifted its position in shares of Sanara MedTech by 323.0% during the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after purchasing an additional 4,376 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 3,755 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Sanara MedTech during the 4th quarter worth approximately $898,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.
Sanara MedTech Company Profile
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.
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