Sanara MedTech (NASDAQ:SMTI) Stock Rating Lowered by Zacks Research

Sanara MedTech (NASDAQ:SMTI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of Sanara MedTech in a research note on Monday, January 26th. Lake Street Capital began coverage on shares of Sanara MedTech in a research note on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Wall Street Zen lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Sanara MedTech presently has a consensus rating of “Hold” and an average target price of $34.00.

Sanara MedTech Stock Up 3.2%

Sanara MedTech stock opened at $21.10 on Tuesday. The company’s 50 day simple moving average is $18.74 and its 200 day simple moving average is $21.44. Sanara MedTech has a fifty-two week low of $16.05 and a fifty-two week high of $35.95. The firm has a market capitalization of $193.28 million, a price-to-earnings ratio of -5.60 and a beta of 1.16. The company has a debt-to-equity ratio of 7.75, a current ratio of 1.80 and a quick ratio of 1.59.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, March 24th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). Sanara MedTech had a negative return on equity of 2.74% and a negative net margin of 31.23%.The firm had revenue of $27.55 million for the quarter, compared to the consensus estimate of $27.90 million. As a group, sell-side analysts anticipate that Sanara MedTech will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Sanara MedTech by 3.4% during the third quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock worth $5,776,000 after buying an additional 6,049 shares during the last quarter. Stonebridge Wealth Management LLC increased its holdings in Sanara MedTech by 1.5% during the first quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock worth $2,352,000 after buying an additional 1,965 shares during the last quarter. Royal Bank of Canada increased its holdings in Sanara MedTech by 127.3% during the fourth quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock worth $2,747,000 after buying an additional 65,887 shares during the last quarter. Geode Capital Management LLC increased its holdings in Sanara MedTech by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock worth $1,846,000 after buying an additional 546 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Sanara MedTech by 144.3% during the second 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. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.