Sanara MedTech (NASDAQ:SMTI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sanara MedTech (NASDAQ:SMTI) from a hold rating to a buy rating in a report released on Saturday morning.

Separately, HC Wainwright boosted their target price on shares of Sanara MedTech from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sanara MedTech currently has an average rating of “Buy” and an average price target of $50.00.

Sanara MedTech Stock Performance

SMTI opened at $35.01 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03. The firm has a fifty day moving average price of $29.70 and a 200 day moving average price of $30.17. Sanara MedTech has a 1 year low of $23.53 and a 1 year high of $39.08. The stock has a market cap of $311.59 million, a P/E ratio of -30.18 and a beta of 1.19.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.10. Sanara MedTech had a negative net margin of 10.22% and a negative return on equity of 26.43%. The firm had revenue of $25.83 million during the quarter, compared to analysts’ expectations of $25.15 million. Equities research analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in Sanara MedTech by 0.9% in the 4th quarter. Northern Trust Corp now owns 40,816 shares of the company’s stock worth $1,355,000 after acquiring an additional 358 shares in the last quarter. Rhumbline Advisers increased its holdings in Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after acquiring an additional 483 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Sanara MedTech by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company’s stock worth $428,000 after acquiring an additional 826 shares in the last quarter. Bank of America Corp DE increased its holdings in Sanara MedTech by 38.7% in the 4th quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Sanara MedTech by 9.6% in the 4th quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock worth $492,000 after acquiring an additional 1,294 shares in the last quarter. 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.