Sanara MedTech (NASDAQ:SMTI) Cut to “Hold” at Wall Street Zen

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

Several other analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research note on Wednesday, October 8th. HC Wainwright lifted their price target on Sanara MedTech from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sanara MedTech currently has an average rating of “Hold” and a consensus price target of $50.00.

Sanara MedTech Stock Performance

SMTI opened at $28.99 on Friday. The business’s 50-day moving average price is $31.99 and its two-hundred day moving average price is $30.20. Sanara MedTech has a 1 year low of $23.53 and a 1 year high of $39.08. The company has a market capitalization of $258.01 million, a price-to-earnings ratio of -24.99 and a beta of 1.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly 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 return on equity of 26.43% and a negative net margin of 10.22%.The firm had revenue of $25.83 million for the quarter, compared to the consensus estimate of $25.15 million. Equities analysts expect that Sanara MedTech will post -1.1 EPS for the current fiscal year.

Institutional Trading of Sanara MedTech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Sanara MedTech during the first quarter worth $326,000. Stephens Inc. AR increased its position in Sanara MedTech by 18.0% during the second quarter. Stephens Inc. AR now owns 12,794 shares of the company’s stock worth $363,000 after buying an additional 1,952 shares during the last quarter. Bank of New York Mellon Corp increased its position in Sanara MedTech by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company’s stock worth $428,000 after buying an additional 826 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Sanara MedTech during the first quarter worth approximately $82,000. Finally, Stonebridge Wealth Management LLC acquired a new position in Sanara MedTech during the second quarter worth approximately $3,397,000. 8.10% of the stock is owned by institutional investors.

Sanara MedTech Company Profile

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.