Cantor Fitzgerald Reaffirms Overweight Rating for Sanara MedTech (NASDAQ:SMTI)

Cantor Fitzgerald reiterated their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI) in a report issued on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $46.00 target price on the stock.

Separately, HC Wainwright increased their price target on Sanara MedTech from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday.

Sanara MedTech Stock Down 5.0 %

Shares of SMTI stock opened at $29.63 on Wednesday. Sanara MedTech has a 52-week low of $26.00 and a 52-week high of $39.08. The stock has a market cap of $259.00 million, a price-to-earnings ratio of -29.93 and a beta of 1.37. The firm’s 50-day moving average is $34.34 and its 200-day moving average is $33.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The firm had revenue of $26.31 million for the quarter, compared to analyst estimates of $22.75 million. Sell-side analysts predict that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings 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 acquiring an additional 4,932 shares during the period. Barclays PLC lifted its holdings in Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after purchasing an additional 4,376 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sanara MedTech by 4.4% in the 3rd 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 Sanara MedTech by 127.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after buying an additional 2,272 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Sanara MedTech during the 4th quarter worth $898,000. 8.10% of the stock is owned by institutional investors.

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.