Sanara MedTech (NASDAQ:SMTI) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

SMTI has been the subject of several other reports. Lake Street Capital started coverage on shares of Sanara MedTech in a research note on Wednesday, April 15th. They set a “buy” rating and a $32.00 price objective for the company. Freedom Capital raised Sanara MedTech to a “strong-buy” rating in a research report on Wednesday, June 17th. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sanara MedTech presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Sanara MedTech Stock Performance

Shares of SMTI stock opened at $24.84 on Friday. The company has a debt-to-equity ratio of 6.59, a quick ratio of 2.05 and a current ratio of 2.28. The firm has a market capitalization of $227.53 million, a price-to-earnings ratio of -6.59 and a beta of 1.18. Sanara MedTech has a one year low of $16.05 and a one year high of $35.95. The company has a 50 day moving average price of $21.73 and a 200 day moving average price of $21.10.

Institutional Investors Weigh In On Sanara MedTech

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Sanara MedTech by 11.7% in the first quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock worth $2,257,000 after buying an additional 13,746 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Sanara MedTech by 72.0% during the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after buying an additional 27,078 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Sanara MedTech by 12.1% during the 1st quarter. Hsbc Holdings PLC now owns 17,283 shares of the company’s stock valued at $301,000 after buying an additional 1,869 shares during the last quarter. Stonebridge Wealth Management LLC grew its position in shares of Sanara MedTech by 1.5% during the first quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock worth $2,352,000 after buying an additional 1,965 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Sanara MedTech during the fourth quarter worth approximately $299,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.