HC Wainwright Forecasts Stronger Earnings for Sanara MedTech

Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) - Stock analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Sanara MedTech in a research note issued to investors on Thursday, January 23rd. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings per share of ($1.15) for the year, up from their previous estimate of ($1.24). HC Wainwright currently has a "Buy" rating and a $50.00 target price on the stock. The consensus estimate for Sanara MedTech's current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Sanara MedTech's Q4 2024 earnings at ($0.19) EPS.

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $44.00 price objective on shares of Sanara MedTech in a report on Wednesday, January 22nd.

Sanara MedTech Stock Down 1.0 %

Sanara MedTech stock traded down $0.38 during midday trading on Monday, reaching $36.75. The company's stock had a trading volume of 15,410 shares, compared to its average volume of 30,841. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $40.75. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The company has a market cap of $321.15 million, a P/E ratio of -36.87 and a beta of 1.55. The business has a 50-day simple moving average of $34.75 and a 200-day simple moving average of $33.01.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating 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 for the quarter. During the same quarter in the prior year, the business earned ($0.13) earnings per share.

Hedge Funds Weigh In On Sanara MedTech

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Sanara MedTech by 127.2% during the third 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. Geode Capital Management LLC grew its holdings in shares of Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company's stock worth $2,670,000 after buying an additional 3,755 shares during the last quarter. Barclays PLC grew 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 buying an additional 4,376 shares during the last quarter. State Street Corp grew its holdings in shares of Sanara MedTech by 9.2% during the third quarter. State Street Corp now owns 58,688 shares of the company's stock worth $1,775,000 after buying an additional 4,932 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Sanara MedTech during the fourth quarter worth about $898,000. Hedge funds and other institutional investors 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.