Sanara MedTech Inc. Forecasted to Post FY2023 Earnings of ($0.70) Per Share (NASDAQ:SMTI)

Sanara MedTech Inc. (NASDAQ:SMTI) – Analysts at Cantor Fitzgerald cut their FY2023 earnings per share estimates for Sanara MedTech in a research note issued on Wednesday, November 15th. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings per share of ($0.70) for the year, down from their prior estimate of ($0.31). Cantor Fitzgerald has a “Overweight” rating and a $49.00 price target on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($0.31) per share. Cantor Fitzgerald also issued estimates for Sanara MedTech’s FY2024 earnings at $0.52 EPS.

Separately, TheStreet lowered Sanara MedTech from a “c-” rating to a “d+” rating in a research note on Friday, October 20th.

Sanara MedTech Trading Down 3.9 %

Sanara MedTech stock opened at $31.81 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.39 and a current ratio of 1.46. The business’s 50-day simple moving average is $30.54 and its 200-day simple moving average is $36.33. The firm has a market capitalization of $271.59 million, a PE ratio of -31.81 and a beta of 1.74. Sanara MedTech has a 52 week low of $26.06 and a 52 week high of $50.18.

Hedge Funds Weigh In On Sanara MedTech

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Sanara MedTech by 8.3% in the 1st quarter. State Street Corp now owns 8,013 shares of the company’s stock worth $222,000 after buying an additional 613 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Sanara MedTech in the 2nd quarter worth approximately $229,000. Quadrature Capital Ltd acquired a new position in shares of Sanara MedTech in the 3rd quarter worth approximately $204,000. Geode Capital Management LLC grew its position in Sanara MedTech by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 28,110 shares of the company’s stock worth $1,279,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in Sanara MedTech during the 4th quarter worth approximately $693,000. Institutional investors and hedge funds own 7.83% of the company’s stock.

Sanara MedTech Company Profile

Sanara MedTech Inc develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. It also offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution.