Sanara MedTech (NASDAQ:SMTI) Stock Price Down 1.6% – Should You Sell?

Sanara MedTech Inc. (NASDAQ:SMTI) shares traded down 1.6% on Monday . The company traded as low as $21.56 and last traded at $22.09. 46,129 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 47,671 shares. The stock had previously closed at $22.44.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Sanara MedTech from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Lake Street Capital assumed coverage on Sanara MedTech in a research report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 target price for the company. Wall Street Zen upgraded Sanara MedTech from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Sanara MedTech has an average rating of “Hold” and an average price target of $34.00.

Sanara MedTech Price Performance

The company has a market cap of $202.34 million, a P/E ratio of -5.86 and a beta of 1.21. The company has a fifty day simple moving average of $19.95 and a 200-day simple moving average of $20.91. The company has a debt-to-equity ratio of 6.59, a current ratio of 2.28 and a quick ratio of 2.05.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $27.55 million during the quarter, compared to the consensus estimate of $27.90 million. On average, sell-side analysts predict that Sanara MedTech Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Sanara MedTech by 72.0% in the first quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock worth $1,111,000 after purchasing an additional 27,078 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Sanara MedTech by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock valued at $78,000 after acquiring an additional 1,457 shares during the period. Deutsche Bank AG boosted its holdings in Sanara MedTech by 171.1% during the fourth quarter. Deutsche Bank AG now owns 3,985 shares of the company’s stock valued at $93,000 after acquiring an additional 2,515 shares during the period. Bank of America Corp DE boosted its holdings in Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after acquiring an additional 973 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Sanara MedTech by 351.7% during the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after acquiring an additional 1,171 shares during the period. 8.10% of the stock is 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.