Sanara MedTech (NASDAQ:SMTI) Cut to “Hold” at Zacks Research

Sanara MedTech (NASDAQ:SMTIGet Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

SMTI has been the topic of a number of other research reports. Wall Street Zen cut shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Wednesday, October 8th. Finally, HC Wainwright decreased their price objective on shares of Sanara MedTech from $54.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.

View Our Latest Stock Report on Sanara MedTech

Sanara MedTech Stock Up 4.7%

NASDAQ:SMTI opened at $22.79 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 7.34. The company’s 50 day moving average is $22.77 and its two-hundred day moving average is $27.47. Sanara MedTech has a twelve month low of $18.90 and a twelve month high of $38.68. The company has a market cap of $202.83 million, a PE ratio of -5.40 and a beta of 1.06.

Sanara MedTech (NASDAQ:SMTIGet Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.33. Sanara MedTech had a negative return on equity of 21.33% and a negative net margin of 36.79%.The company had revenue of $26.33 million during the quarter, compared to analysts’ expectations of $26.63 million. Analysts anticipate that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Trading of Sanara MedTech

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after acquiring an additional 1,171 shares during the last quarter. Lazard Asset Management LLC raised its stake 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 valued at $89,000 after acquiring an additional 3,155 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after acquiring an additional 973 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after buying an additional 483 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in Sanara MedTech by 25.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 10,897 shares of the company’s stock valued at $254,000 after acquiring an additional 2,182 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

About Sanara MedTech

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Sanara MedTech is a medical technology company focused on developing and commercializing innovative devices for ear, nose and throat (ENT) healthcare. The company’s core offering centers on minimally invasive sinus dilation systems designed to treat chronic sinusitis and related conditions. These products leverage balloon catheter technology to expand sinus pathways and improve patient outcomes while reducing recovery times. In addition to sinus solutions, the portfolio extends to procedural tools and implants for otology and cranial applications.

With its legacy rooted in the assets of a former Johnson & Johnson business, Sanara MedTech combines decades of research and development in ENT therapies.

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