Sanara MedTech (NASDAQ:SMTI) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Sanara MedTech (NASDAQ:SMTI – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, HC Wainwright upped their price objective on Sanara MedTech from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $50.00.

Check Out Our Latest Analysis on SMTI

Sanara MedTech Stock Down 3.7%

SMTI opened at $33.96 on Friday. The business has a 50 day moving average price of $29.59 and a two-hundred day moving average price of $30.17. The company has a quick ratio of 2.03, a current ratio of 2.26 and a debt-to-equity ratio of 1.25. The company has a market cap of $302.24 million, a PE ratio of -29.28 and a beta of 1.19. Sanara MedTech has a 52 week low of $23.53 and a 52 week high of $39.08.

Sanara MedTech (NASDAQ:SMTI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.10. The firm had revenue of $25.83 million during the quarter, compared to the consensus estimate of $25.15 million. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%. As a group, research analysts anticipate that Sanara MedTech will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

A number of large investors have recently modified their holdings of the business. Stonebridge Wealth Management LLC purchased a new position in shares of Sanara MedTech during the 2nd quarter worth approximately $3,397,000. Lazard Asset Management LLC grew its holdings in shares of Sanara MedTech by 63,100.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after acquiring an additional 3,155 shares during the period. Marshall Wace LLP grew its holdings in shares of Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,237 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Sanara MedTech in the 2nd quarter worth approximately $382,000. Finally, Stephens Inc. AR grew its holdings in shares of Sanara MedTech by 18.0% in the 2nd quarter. Stephens Inc. AR now owns 12,794 shares of the company’s stock worth $363,000 after acquiring an additional 1,952 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Sanara MedTech

(Get Free Report)

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.

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