Sanara MedTech (NASDAQ:SMTI) Stock Rating Upgraded by Zacks Research

Sanara MedTech (NASDAQ:SMTI) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Wall Street Zen upgraded Sanara MedTech from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Lake Street Capital initiated coverage on Sanara MedTech in a research note on Wednesday, April 15th. They set a “buy” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sanara MedTech presently has an average rating of “Hold” and a consensus price target of $34.00.

Sanara MedTech Trading Down 6.5%

NASDAQ:SMTI opened at $21.50 on Wednesday. The firm has a market cap of $196.94 million, a P/E ratio of -5.70 and a beta of 1.21. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The stock’s 50 day simple moving average is $20.27 and its 200-day simple moving average is $20.97. Sanara MedTech has a 12-month low of $16.05 and a 12-month high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Sanara MedTech had a negative net margin of 31.23% and a negative return on equity of 3.19%. The business had revenue of $27.55 million during the quarter, compared to analysts’ expectations of $27.90 million. Equities analysts anticipate that Sanara MedTech will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Sanara MedTech by 351.7% during the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after acquiring an additional 1,171 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Sanara MedTech by 63,100.0% in the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after buying an additional 3,155 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Sanara MedTech by 44.1% in the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Sanara MedTech by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock valued at $78,000 after buying an additional 1,457 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after buying an additional 483 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

Sanara MedTech is a medical technology company focused on developing and commercializing innovative devices for ear, nose and throat (ENT) healthcare. The company’s core offering centers on minimally invasive sinus dilation systems designed to treat chronic sinusitis and related conditions. These products leverage balloon catheter technology to expand sinus pathways and improve patient outcomes while reducing recovery times. In addition to sinus solutions, the portfolio extends to procedural tools and implants for otology and cranial applications.

With its legacy rooted in the assets of a former Johnson & Johnson business, Sanara MedTech combines decades of research and development in ENT therapies.