Sanara MedTech’s (SMTI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $46.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 56.62% from the stock’s current price.

Separately, HC Wainwright upped their price objective on shares of Sanara MedTech from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday.

Sanara MedTech Price Performance

Shares of NASDAQ SMTI traded down $1.83 during mid-day trading on Wednesday, reaching $29.37. The company had a trading volume of 4,747 shares, compared to its average volume of 23,227. The firm has a market cap of $256.72 million, a price-to-earnings ratio of -30.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. Sanara MedTech has a one year low of $26.00 and a one year high of $39.08. The business’s 50-day simple moving average is $34.40 and its 200 day simple moving average is $33.82.

Sanara MedTech (NASDAQ:SMTI) last issued its earnings results on Tuesday, March 25th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. The company had revenue of $26.31 million during the quarter, compared to analysts’ expectations of $22.75 million. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. On average, research analysts predict that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Several hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp bought a new position in shares of Sanara MedTech in the 4th quarter worth about $898,000. Barclays PLC lifted its holdings in shares of Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sanara MedTech by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after acquiring an additional 3,755 shares during the last quarter. State Street Corp grew its position in Sanara MedTech by 9.2% in the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after purchasing an additional 4,932 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after acquiring an additional 2,272 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.