Sanara MedTech (NASDAQ:SMTI) Issues Quarterly Earnings Results

Sanara MedTech (NASDAQ:SMTI) released its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03), FiscalAI reports. The business had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%.

Sanara MedTech Price Performance

NASDAQ:SMTI traded up $0.13 on Tuesday, hitting $34.38. The company had a trading volume of 367,130 shares, compared to its average volume of 98,561. The stock has a market capitalization of $314.92 million, a price-to-earnings ratio of -9.12 and a beta of 1.12. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The firm has a 50 day moving average of $25.39 and a two-hundred day moving average of $21.81. Sanara MedTech has a 52 week low of $16.05 and a 52 week high of $35.95.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SMTI shares. Wall Street Zen lowered Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Friday, July 17th. Lake Street Capital lowered Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Thursday, July 30th. Freedom Capital cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Zacks Research upgraded Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $35.00.

Institutional Trading of Sanara MedTech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings 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 in the last quarter. Hsbc Holdings PLC bought a new position in shares of Sanara MedTech in the 2nd quarter valued at $382,000. Marshall Wace LLP boosted its holdings in shares of Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after acquiring an additional 42,237 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Sanara MedTech by 63,100.0% during 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Sanara MedTech by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock worth $351,000 after acquiring an additional 2,315 shares during the last quarter. 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.