Sanara MedTech (NASDAQ:SMTI) Raised to Buy at Wall Street Zen

Sanara MedTech (NASDAQ:SMTI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research firms have also recently issued reports on SMTI. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research report on Thursday, January 22nd. Zacks Research lowered shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Sanara MedTech in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.00.

Sanara MedTech Stock Down 5.8%

NASDAQ:SMTI opened at $16.96 on Friday. Sanara MedTech has a twelve month low of $16.05 and a twelve month high of $35.95. The company has a market cap of $155.52 million, a price-to-earnings ratio of -4.01 and a beta of 1.04. The stock has a fifty day simple moving average of $19.99 and a 200-day simple moving average of $24.44. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 7.75.

Sanara MedTech (NASDAQ:SMTI) last issued its earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $27.55 million for the quarter, compared to analysts’ expectations of $27.90 million. Sanara MedTech had a negative net margin of 36.42% and a negative return on equity of 20.73%. Analysts anticipate that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Trading of Sanara MedTech

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after acquiring an additional 483 shares during the period. Geode Capital Management LLC increased its position in Sanara MedTech by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock valued at $1,846,000 after purchasing an additional 546 shares during the period. State Street Corp raised its holdings in shares of Sanara MedTech by 1.1% in the 4th quarter. State Street Corp now owns 62,289 shares of the company’s stock valued at $1,454,000 after purchasing an additional 690 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after purchasing an additional 973 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after purchasing an additional 1,171 shares during the period. 8.10% of the stock is currently owned by institutional investors.

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.