HC Wainwright Reaffirms "Buy" Rating for Sanara MedTech (NASDAQ:SMTI)

HC Wainwright reissued their buy rating on shares of Sanara MedTech (NASDAQ:SMTI - Free Report) in a report issued on Thursday,Benzinga reports. They currently have a $50.00 price objective on the stock.

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

Sanara MedTech Stock Up 0.8 %

NASDAQ SMTI traded up $0.32 during trading on Thursday, reaching $38.04. The company's stock had a trading volume of 25,710 shares, compared to its average volume of 31,622. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $332.47 million, a PE ratio of -38.25 and a beta of 1.55. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $40.75. The business has a 50-day moving average price of $34.66 and a 200-day moving average price of $32.84.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.28. The business had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same period in the previous year, the firm posted ($0.13) EPS. On average, research analysts forecast that Sanara MedTech will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company's stock valued at $2,670,000 after acquiring an additional 3,755 shares during the period. State Street Corp lifted its position 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 purchasing an additional 4,932 shares during the last quarter. Barclays PLC boosted its stake in 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 purchasing an additional 4,376 shares during the period. JPMorgan Chase & Co. grew its holdings in Sanara MedTech by 127.2% in 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 last quarter. Finally, Fifth Third Bancorp bought a new position in Sanara MedTech in the 4th quarter worth approximately $898,000. 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.