HC Wainwright Reaffirms Buy Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $36.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 70.25% from the company’s previous close.

SMTI has been the topic of several other research reports. Wall Street Zen cut shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sanara MedTech presently has an average rating of “Hold” and a consensus target price of $41.00.

Sanara MedTech Price Performance

SMTI stock traded down $0.61 during mid-day trading on Monday, reaching $21.15. The company’s stock had a trading volume of 22,962 shares, compared to its average volume of 45,190. 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 $22.83 and its two-hundred day moving average is $27.35. Sanara MedTech has a fifty-two week low of $18.90 and a fifty-two week high of $37.91. The stock has a market cap of $188.19 million, a PE ratio of -5.01 and a beta of 1.06.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.33. Sanara MedTech had a negative net margin of 36.79% and a negative return on equity of 21.33%. The firm had revenue of $26.33 million for the quarter, compared to analysts’ expectations of $26.63 million. Equities research analysts expect that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake 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 purchasing 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% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after buying an additional 3,155 shares in the last quarter. Bank of America Corp DE raised its position in shares of Sanara MedTech by 44.1% in the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares during the last quarter. Rhumbline Advisers raised its position in shares of Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after buying an additional 483 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Sanara MedTech by 25.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 10,897 shares of the company’s stock valued at $254,000 after buying an additional 2,182 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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.