Cantor Fitzgerald Reaffirms Overweight Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $46.00 price target on the stock. Cantor Fitzgerald's target price suggests a potential upside of 52.37% from the stock's current price. Cantor Fitzgerald also issued estimates for Sanara MedTech's FY2025 earnings at ($2.43) EPS.

Separately, HC Wainwright lifted their target price on shares of Sanara MedTech from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday.

Sanara MedTech Stock Performance

Shares of SMTI traded down $1.03 during mid-day trading on Wednesday, hitting $30.19. 17,105 shares of the company's stock were exchanged, compared to its average volume of 23,825. 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 has a fifty-two week low of $26.00 and a fifty-two week high of $39.08. The business's 50 day moving average is $34.26 and its two-hundred day moving average is $33.74. The firm has a market capitalization of $268.75 million, a P/E ratio of -30.49 and a beta of 1.37.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The company had revenue of $26.31 million for the quarter, compared to the consensus estimate of $22.75 million. On average, equities analysts expect that Sanara MedTech will post -1.1 earnings per share for the current year.

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Institutional Investors Weigh In On Sanara MedTech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its stake 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 period. Barclays PLC increased its holdings in Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company's stock valued at $174,000 after buying an additional 4,376 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $2,670,000 after acquiring an additional 3,755 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 2,272 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Sanara MedTech in the 4th quarter worth approximately $898,000. Institutional investors and hedge funds own 8.10% of the company's stock.

About Sanara MedTech

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.