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

Cantor Fitzgerald reiterated their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $44.00 price target on the stock.

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

Sanara MedTech Stock Performance

SMTI traded up $3.72 during trading on Wednesday, hitting $37.72. The stock had a trading volume of 108,207 shares, compared to its average volume of 32,670. 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 firm has a market cap of $329.67 million, a price-to-earnings ratio of -38.10 and a beta of 1.55. The company has a 50 day moving average price of $34.65 and a 200-day moving average price of $32.80. Sanara MedTech has a one year low of $26.00 and a one year high of $40.75.

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

Institutional Trading of Sanara MedTech

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings 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 worth $2,670,000 after acquiring an additional 3,755 shares during the period. State Street Corp boosted its stake in shares of Sanara MedTech by 9.2% in the 3rd 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 in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Sanara MedTech in the 4th quarter valued at approximately $898,000. Barclays PLC increased its position in Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company's stock worth $174,000 after purchasing an additional 4,376 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 2,272 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.