Sanara MedTech Inc. (NASDAQ:SMTI) Receives $35.00 Consensus Target Price from Analysts

Sanara MedTech Inc. (NASDAQ:SMTI) has received an average recommendation of “Reduce” from the five research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.00.

Several brokerages have commented on SMTI. Lake Street Capital downgraded shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Thursday, July 30th. Zacks Research raised shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen cut Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, HC Wainwright lowered Sanara MedTech from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in 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 purchasing an additional 483 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Sanara MedTech in the 2nd quarter worth approximately $382,000. Marshall Wace LLP increased its holdings in shares of Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after buying an additional 42,237 shares during the last quarter. Lazard Asset Management LLC increased 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 buying an additional 3,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Sanara MedTech by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock valued at $351,000 after buying an additional 2,315 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

Sanara MedTech Stock Down 0.5%

Shares of NASDAQ SMTI opened at $34.16 on Friday. Sanara MedTech has a 52 week low of $16.05 and a 52 week high of $35.95. The business has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $22.06. The company has a quick ratio of 2.05, a current ratio of 2.28 and a debt-to-equity ratio of 6.59. The company has a market cap of $313.93 million, a P/E ratio of -9.52 and a beta of 1.13.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 31.56%. The company had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. Research analysts anticipate that Sanara MedTech will post 0.16 earnings per share for the current fiscal year.

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.