Sanara MedTech (NASDAQ:SMTI) Price Target Raised to $51.00

Sanara MedTech (NASDAQ:SMTI) had its target price hoisted by research analysts at HC Wainwright from $50.00 to $51.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 63.46% from the company’s current price.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price objective on shares of Sanara MedTech in a research report on Wednesday, January 22nd.

Sanara MedTech Price Performance

Shares of SMTI stock opened at $31.20 on Wednesday. The firm’s 50 day moving average is $34.40 and its 200-day moving average is $33.82. The firm has a market capitalization of $272.72 million, a price-to-earnings ratio of -31.52 and a beta of 1.37. Sanara MedTech has a 1 year low of $26.00 and a 1 year high of $39.08. 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 posted its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $26.31 million during the quarter, compared to the consensus estimate of $22.75 million. Sell-side analysts forecast that Sanara MedTech will post -1.1 EPS for the current fiscal year.

Institutional Trading of Sanara MedTech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its position in shares of Sanara MedTech by 9.6% during the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock worth $492,000 after buying an additional 1,294 shares during the period. Deutsche Bank AG raised its holdings in shares of Sanara MedTech by 75.4% in the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after purchasing an additional 1,525 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Sanara MedTech by 7.3% in the fourth quarter. Citadel Advisors LLC now owns 21,984 shares of the company’s stock worth $730,000 after purchasing an additional 1,491 shares in the last quarter. Bank of America Corp DE lifted its position 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 purchasing an additional 1,055 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Sanara MedTech during the fourth quarter worth $106,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.