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

Sanara MedTech (NASDAQ:SMTI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages have also commented on SMTI. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research note on Tuesday, April 21st. Lake Street Capital began coverage on Sanara MedTech in a research note on Wednesday, April 15th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Wall Street Zen raised Sanara MedTech from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sanara MedTech presently has a consensus rating of “Hold” and an average price target of $34.00.

Sanara MedTech Price Performance

Shares of NASDAQ:SMTI opened at $21.50 on Wednesday. The business’s 50 day simple moving average is $20.27 and its 200-day simple moving average is $20.97. The firm has a market capitalization of $196.94 million, a price-to-earnings ratio of -5.70 and a beta of 1.21. The company has a debt-to-equity ratio of 6.59, a current ratio of 2.28 and a quick ratio of 2.05. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $27.55 million for the quarter, compared to analysts’ expectations of $27.90 million. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%. As a group, equities analysts forecast that Sanara MedTech will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently bought and sold shares of SMTI. Royal Bank of Canada lifted its stake in Sanara MedTech by 127.3% in the 4th quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock valued at $2,747,000 after buying an additional 65,887 shares in the last quarter. Marshall Wace LLP lifted its stake in Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after buying an additional 42,237 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Sanara MedTech by 72.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after buying an additional 27,078 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Sanara MedTech by 343.4% in the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after buying an additional 24,305 shares in the last quarter. Finally, Stonebridge Wealth Management LLC lifted its stake in Sanara MedTech by 17.8% in the 4th quarter. Stonebridge Wealth Management LLC now owns 134,934 shares of the company’s stock valued at $3,151,000 after buying an additional 20,353 shares in the last quarter. Hedge funds and other institutional investors 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.