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

Cantor Fitzgerald restated their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI) in a report issued on Wednesday morning,Benzinga reports. They currently have a $44.00 price objective on the stock.

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

Sanara MedTech Stock Up 10.9 %

Sanara MedTech stock opened at $37.72 on Wednesday. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $40.75. The business has a fifty day moving average price of $34.65 and a 200-day moving average price of $32.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The stock has a market capitalization of $329.67 million, a price-to-earnings ratio of -38.10 and a beta of 1.55.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly 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. 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 quarter in the previous year, the firm posted ($0.13) EPS. Equities research analysts forecast that Sanara MedTech will post -1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMTI. JPMorgan Chase & Co. raised its position in Sanara MedTech by 127.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after buying an additional 2,272 shares during the last quarter. Barclays PLC raised its holdings in shares of Sanara MedTech by 323.0% during the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after purchasing an additional 4,376 shares during the last quarter. Fifth Third Bancorp acquired a new position in Sanara MedTech during the fourth quarter valued at $898,000. State Street Corp lifted 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 purchasing an additional 4,932 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Sanara MedTech by 4.4% in the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after purchasing an additional 3,755 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.