Sanara MedTech Inc. (NASDAQ:SMTI) Stock Has Consensus Price Target of $35.00 According to Analysts

Shares of Sanara MedTech Inc. (NASDAQ:SMTI) have been assigned an average rating of “Reduce” from the five analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.00.

A number of brokerages have commented on SMTI. Weiss Ratings raised shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Freedom Capital downgraded Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Wall Street Zen cut Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. HC Wainwright cut Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $35.00 in a research report on Thursday, July 30th. Finally, Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a report on Thursday, July 30th.

Sanara MedTech Price Performance

SMTI opened at $32.84 on Wednesday. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.52. The business has a fifty day moving average price of $34.59 and a 200 day moving average price of $25.40.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $28.14 million during the quarter, compared to the consensus estimate of $28.95 million. Research analysts anticipate that Sanara MedTech will post 0.16 EPS for the current year.

Institutional Trading of Sanara MedTech

Several institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its position in shares of Sanara MedTech by 12.1% in the 1st quarter. Hsbc Holdings PLC now owns 17,283 shares of the company’s stock valued at $301,000 after buying an additional 1,869 shares during the last quarter. Stonebridge Wealth Management LLC boosted its position in shares of Sanara MedTech by 1.5% in the 1st quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock valued at $2,352,000 after purchasing an additional 1,965 shares during the period. Deutsche Bank AG acquired a new stake in shares of Sanara MedTech in the 2nd quarter valued at about $98,000. Rockefeller Capital Management L.P. purchased a new position in Sanara MedTech during the 4th quarter worth approximately $299,000. Finally, Royal Bank of Canada grew its stake in Sanara MedTech by 11.7% during the 1st quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock worth $2,257,000 after buying an additional 13,746 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Sanara MedTech Company Profile

Sanara MedTech Inc is a medical technology company focused on developing, commercializing and distributing products used in wound care, surgical soft-tissue repair and tissue regeneration. The company serves healthcare providers treating acute, chronic and complex wounds, as well as patients requiring surgical tissue management.

Sanara’s product portfolio includes advanced wound-care and tissue-repair technologies such as CellerateRX products, FORTIFY tissue-repair products and other regenerative medicine solutions.