Sanara MedTech Inc. (NASDAQ:SMTI) Stock Now Rated “Reduce” by Sell-Side Brokerages

Shares of Sanara MedTech Inc. (NASDAQ:SMTI) have received an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat reports. One 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 ratings on the stock in the last year is $35.00.

A number of equities research analysts have recently commented on SMTI shares. Lake Street Capital lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Thursday, July 30th. HC Wainwright downgraded shares of Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Freedom Capital lowered shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a 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 report on Tuesday, August 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMTI. BlackRock Inc. bought a new position in shares of Sanara MedTech in the 2nd quarter worth about $5,870,000. Walleye Capital LLC acquired a new position in shares of Sanara MedTech in the 2nd quarter valued at about $719,000. Renaissance Technologies LLC boosted its position in shares of Sanara MedTech by 72.0% during the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after purchasing an additional 27,078 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Sanara MedTech during the 2nd quarter valued at about $550,000. Finally, Bank of America Corp DE bought a new stake in shares of Sanara MedTech during the 2nd quarter valued at about $376,000. 8.10% of the stock is owned by institutional investors.

Sanara MedTech Stock Performance

NASDAQ:SMTI opened at $33.14 on Wednesday. The company has a market capitalization of $304.49 million, a PE ratio of -9.23 and a beta of 1.19. The company has a 50 day simple moving average of $34.73 and a two-hundred day simple moving average of $27.19. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.30 and a current ratio of 2.58. Sanara MedTech has a fifty-two week low of $16.05 and a fifty-two week high of $35.52.

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

Sanara MedTech Company Profile

Sanara MedTech Inc is a medical technology company focused on developing, commercializing and distributing products designed to support surgical procedures and the management of complex wounds. Its offerings are intended for use by hospitals, surgical centers, wound-care providers and other healthcare professionals.

The company’s portfolio includes advanced wound-care technologies such as CellerateRX® products, which are collagen-based products used to support the healing process, and BIAKŌS® antimicrobial wound-care products.