Sanara MedTech Inc. (NASDAQ:SMTI) Short Interest Down 42.8% in July

Sanara MedTech Inc. (NASDAQ:SMTI) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 216,090 shares, a decrease of 42.8% from the July 15th total of 377,539 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 401,044 shares, the days-to-cover ratio is currently 0.5 days.

Sanara MedTech Stock Performance

Shares of SMTI opened at $34.22 on Wednesday. The company has a quick ratio of 2.30, a current ratio of 2.58 and a debt-to-equity ratio of 5.86. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95. The company’s fifty day moving average is $26.87 and its 200-day moving average is $22.34. The firm has a market cap of $314.45 million, a price-to-earnings ratio of -9.53 and a beta of 1.12.

Sanara MedTech (NASDAQ:SMTI) last posted its 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 29.72%. The company had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. Equities analysts expect that Sanara MedTech will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SMTI. HC Wainwright downgraded shares of Sanara MedTech from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $35.00 in a research note on Thursday, July 30th. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen lowered shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Freedom Capital downgraded shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sanara MedTech presently has an average rating of “Reduce” and an average target price of $35.00.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors have recently modified their holdings of SMTI. BNP Paribas Financial Markets lifted its stake in shares of Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after buying an additional 1,171 shares during the last quarter. Lazard Asset Management LLC raised its holdings in 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 acquiring an additional 3,155 shares during the period. Bank of America Corp DE raised its holdings in Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after acquiring an additional 973 shares during the period. Wells Fargo & Company MN lifted its position in Sanara MedTech by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after acquiring an additional 1,457 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after acquiring an additional 483 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.