Sanara MedTech Inc. (NASDAQ:SMTI) Receives $34.00 Consensus Target Price from Analysts

Sanara MedTech Inc. (NASDAQ:SMTI) has received an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $34.00.

Several research analysts have recently weighed in on SMTI shares. Freedom Capital upgraded shares of Sanara MedTech to a “strong-buy” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded shares of Sanara MedTech from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Lake Street Capital started coverage on shares of Sanara MedTech in a research note on Wednesday, April 15th. They issued a “buy” rating and a $32.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMTI. Rhumbline Advisers boosted its stake in Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after acquiring an additional 483 shares during the last quarter. Hsbc Holdings PLC bought a new position in Sanara MedTech during the 2nd quarter valued at $382,000. Marshall Wace LLP boosted its stake in Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after acquiring an additional 42,237 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Sanara MedTech by 63,100.0% during the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after acquiring an additional 3,155 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Sanara MedTech by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock valued at $351,000 after acquiring an additional 2,315 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Sanara MedTech Stock Up 5.2%

Shares of NASDAQ SMTI opened at $22.89 on Thursday. The company has a market cap of $209.67 million, a P/E ratio of -6.07 and a beta of 1.21. The stock has a fifty day moving average price of $21.13 and a 200 day moving average price of $21.05. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. Sanara MedTech has a 12-month low of $16.05 and a 12-month high of $35.95.

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

Sanara MedTech Company Profile

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.