Sanara MedTech’s (SMTI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Sanara MedTech (NASDAQ:SMTI) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $50.00 price target on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $44.00 target price on shares of Sanara MedTech in a research report on Wednesday.

Sanara MedTech Stock Up 1.1 %

SMTI opened at $38.12 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. The business has a fifty day simple moving average of $34.66 and a 200 day simple moving average of $32.84. Sanara MedTech has a 1 year low of $26.00 and a 1 year high of $40.75.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The company had revenue of $21.67 million during the quarter. During the same period in the prior year, the business posted ($0.13) EPS. Equities analysts anticipate that Sanara MedTech will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Sanara MedTech

A number of institutional investors have recently modified their holdings of SMTI. JPMorgan Chase & Co. increased 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 worth $123,000 after purchasing an additional 2,272 shares during the period. Barclays PLC increased its holdings in Sanara MedTech by 323.0% in 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. Fifth Third Bancorp acquired a new position in shares of Sanara MedTech in the 4th quarter valued at approximately $898,000. State Street Corp lifted its holdings in shares of Sanara MedTech by 9.2% during the 3rd 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. Finally, Geode Capital Management LLC boosted its position 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 worth $2,670,000 after acquiring an additional 3,755 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.