HC Wainwright Downgrades Sanara MedTech (NASDAQ:SMTI) to Neutral

Sanara MedTech (NASDAQ:SMTI) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $35.00 price objective on the stock, down from their previous price objective of $36.00. HC Wainwright’s price target indicates a potential upside of 3.37% from the company’s previous close.

SMTI has been the topic of a number of other research reports. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Lake Street Capital started coverage on Sanara MedTech in a research note on Wednesday, April 15th. They set a “buy” rating and a $32.00 target price for the company. Wall Street Zen raised Sanara MedTech from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a report on Friday, July 17th. Finally, Freedom Capital upgraded shares of Sanara MedTech to a “strong-buy” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

Sanara MedTech Stock Performance

SMTI opened at $33.86 on Thursday. The business has a 50 day moving average price of $24.06 and a two-hundred day moving average price of $21.36. The company has a debt-to-equity ratio of 6.59, a current ratio of 2.28 and a quick ratio of 2.05. The company has a market capitalization of $310.16 million, a price-to-earnings ratio of -8.98 and a beta of 1.18. Sanara MedTech has a 1-year low of $16.05 and a 1-year high of $35.95.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of Sanara MedTech by 351.7% during 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 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 last quarter. Bank of America Corp DE grew 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. Wells Fargo & Company MN raised its position in shares of Sanara MedTech by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after purchasing an additional 1,457 shares during the period. Finally, Rhumbline Advisers raised 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 purchasing an additional 483 shares during the period. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.