HC Wainwright Boosts Sanara MedTech (NASDAQ:SMTI) Price Target to $51.00

Sanara MedTech (NASDAQ:SMTI) had its target price upped by research analysts at HC Wainwright from $50.00 to $51.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 63.36% from the stock’s current price.

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 Stock Up 5.4 %

Sanara MedTech stock opened at $31.22 on Wednesday. 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 has a 1-year low of $26.00 and a 1-year high of $39.08. The firm’s fifty day simple moving average is $34.31 and its 200-day simple moving average is $33.77. The company has a market capitalization of $272.89 million, a P/E ratio of -31.54 and a beta of 1.37.

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

Institutional Investors Weigh In On Sanara MedTech

A number of hedge funds have recently bought and sold shares of SMTI. Wells Fargo & Company MN lifted its position in shares of Sanara MedTech by 53.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after purchasing an additional 663 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Sanara MedTech in the 4th quarter worth approximately $106,000. Deutsche Bank AG lifted its holdings in shares of Sanara MedTech by 75.4% during the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock worth $118,000 after buying an additional 1,525 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 2,272 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Sanara MedTech by 38.7% in the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after acquiring an additional 1,055 shares during the last quarter. 8.10% of the stock is currently 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.