HC Wainwright Reiterates Buy Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 32.56% from the company’s previous close.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price objective on shares of Sanara MedTech in a research report on Wednesday.

Sanara MedTech Stock Performance

NASDAQ SMTI opened at $37.72 on Thursday. The company has a market cap of $329.67 million, a PE ratio of -38.10 and a beta of 1.55. The stock’s 50 day simple moving average is $34.66 and its 200-day simple moving average is $32.84. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $40.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02.

Sanara MedTech (NASDAQ:SMTI) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.28. The business had revenue of $21.67 million for the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same quarter last year, the business earned ($0.13) EPS. As a group, equities research analysts anticipate that Sanara MedTech will post -1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after buying an additional 3,755 shares in the last quarter. State Street Corp lifted its position in Sanara MedTech by 9.2% during the third quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after buying an additional 4,932 shares in the last quarter. Barclays PLC raised its position in Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares during the period. JPMorgan Chase & Co. raised its position in Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after purchasing an additional 2,272 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Sanara MedTech in the fourth quarter valued at $898,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.