Sanara MedTech (NASDAQ:SMTI) Now Covered by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $50.00 price target on the stock. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.24) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.96) EPS.

Sanara MedTech Trading Up 2.4 %

NASDAQ:SMTI opened at $34.94 on Monday. The stock has a fifty day simple moving average of $34.68 and a 200 day simple moving average of $32.22. The firm has a market capitalization of $305.41 million, a price-to-earnings ratio of -35.29 and a beta of 1.57. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $43.25. The company has a quick ratio of 2.02, a current ratio of 2.23 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) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.28. The company 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 in the previous year, the business earned ($0.13) earnings per share. Sell-side analysts forecast that Sanara MedTech will post -1.42 earnings per share for the current year.

Hedge Funds Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMTI. Barclays PLC boosted its position in shares of Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after buying an additional 4,376 shares during the period. State Street Corp raised its position in Sanara MedTech by 9.2% during 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 during the period. Finally, Geode Capital Management LLC lifted 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 worth $2,670,000 after acquiring an additional 3,755 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.