Sanara MedTech Inc. (NASDAQ:SMTI) Stock Has Consensus Price Target of $35.00 According to Brokerages

Shares of Sanara MedTech Inc. (NASDAQ:SMTI) have been given an average rating of “Reduce” by the five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $35.00.

Several equities analysts have commented on SMTI shares. Weiss Ratings upgraded shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. HC Wainwright cut Sanara MedTech from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th. Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 30th. Freedom Capital cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th.

Sanara MedTech Price Performance

SMTI stock opened at $34.85 on Friday. Sanara MedTech has a one year low of $16.05 and a one year high of $35.34. The company’s fifty day moving average price is $34.22 and its 200-day moving average price is $25.73. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.30 and a current ratio of 2.58. The company has a market capitalization of $320.20 million, a PE ratio of -9.71 and a beta of 1.19.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $28.14 million for the quarter, compared to analysts’ expectations of $28.95 million. Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. On average, equities analysts anticipate that Sanara MedTech will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

A number of large investors have recently made changes to their positions in SMTI. Hsbc Holdings PLC lifted its stake in Sanara MedTech by 34.5% in the second quarter. Hsbc Holdings PLC now owns 23,254 shares of the company’s stock worth $550,000 after purchasing an additional 5,971 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Sanara MedTech during the 2nd quarter worth approximately $376,000. BlackRock Inc. bought a new stake in shares of Sanara MedTech during the 2nd quarter worth approximately $5,870,000. Deutsche Bank AG purchased a new stake in Sanara MedTech in the second quarter worth $98,000. Finally, Walleye Capital LLC bought a new stake in shares of Sanara MedTech during the second quarter worth $719,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Sanara MedTech

Sanara MedTech Inc is a medical technology company focused on developing and commercializing products for wound care, surgical reconstruction and tissue repair. Its portfolio is designed to support the management of chronic, acute and surgical wounds across a range of clinical settings.

The company’s products include advanced wound matrices, collagen-based products, tissue-repair grafts and antimicrobial solutions. Its offerings include the CellerateRX line of collagen products, BIAKOS antimicrobial wound-care products, Restrata synthetic wound matrices and FORTIFY tissue-repair grafts.