Sanara MedTech (NASDAQ:SMTI) Raised to Buy at Wall Street Zen

Sanara MedTech (NASDAQ:SMTI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

SMTI has been the topic of several other reports. Lake Street Capital assumed coverage on Sanara MedTech in a report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Sanara MedTech in a report on Monday, January 26th. Finally, Zacks Research cut Sanara MedTech from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Sanara MedTech Stock Performance

NASDAQ:SMTI opened at $21.06 on Friday. The stock has a market cap of $192.91 million, a P/E ratio of -5.59 and a beta of 1.16. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The stock’s 50-day moving average is $18.78 and its 200-day moving average is $21.31. Sanara MedTech has a 1-year low of $16.05 and a 1-year high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results 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). The firm had revenue of $27.55 million for the quarter, compared to the consensus estimate of $27.90 million. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%. Equities research analysts anticipate that Sanara MedTech will post 0.16 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in Sanara MedTech by 72.0% in the first quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after buying an additional 27,078 shares during the period. Hsbc Holdings PLC raised its position in Sanara MedTech by 12.1% in the 1st quarter. Hsbc Holdings PLC now owns 17,283 shares of the company’s stock valued at $301,000 after buying an additional 1,869 shares during the last quarter. Stonebridge Wealth Management LLC grew its stake in Sanara MedTech by 1.5% in the 1st quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock valued at $2,352,000 after purchasing an additional 1,965 shares during the period. Rockefeller Capital Management L.P. bought a new position in Sanara MedTech in the 4th quarter valued at $299,000. Finally, NewEdge Advisors LLC bought a new position in Sanara MedTech in the 4th quarter valued at $243,000. 8.10% of the stock is currently owned by institutional investors.

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.