Sanara MedTech (NASDAQ:SMTI) Receives “Overweight” Rating from Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $44.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 17.94% from the company’s current price.

Separately, HC Wainwright began coverage on Sanara MedTech in a research note on Monday, December 23rd. They issued a “buy” rating and a $50.00 price target on the stock.

Sanara MedTech Stock Up 9.7 %

SMTI stock traded up $3.31 during trading on Wednesday, hitting $37.31. 40,999 shares of the company’s stock were exchanged, compared to its average volume of 27,396. The business has a 50-day moving average price of $34.65 and a two-hundred day moving average price of $32.80. The stock has a market capitalization of $326.05 million, a price-to-earnings ratio of -37.68 and a beta of 1.55. Sanara MedTech has a 52-week low of $26.00 and a 52-week high of $40.75. 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 released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.28. The business had revenue of $21.67 million for the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same period in the previous year, the firm posted ($0.13) EPS. As a group, equities research analysts expect that Sanara MedTech will post -1.33 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

Several institutional investors have recently added to or reduced their stakes in SMTI. State Street Corp increased its stake in 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 purchasing an additional 4,932 shares during the last quarter. Barclays PLC raised its holdings in shares of Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after buying an additional 4,376 shares during the period. Geode Capital Management LLC raised its holdings in shares of Sanara MedTech by 4.4% during the 3rd 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. JPMorgan Chase & Co. raised its holdings in shares of Sanara MedTech by 127.2% during 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 during the period. Finally, Fifth Third Bancorp acquired a new stake in Sanara MedTech during the 4th quarter valued at approximately $898,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.