HC Wainwright Lowers Sanara MedTech (NASDAQ:SMTI) Price Target to $36.00

Sanara MedTech (NASDAQ:SMTI) had its target price decreased by research analysts at HC Wainwright from $54.00 to $36.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 66.78% from the stock’s previous close.

A number of other research analysts also recently commented on SMTI. Wall Street Zen downgraded Sanara MedTech from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.00.

Sanara MedTech Trading Up 10.1%

Shares of Sanara MedTech stock traded up $1.98 during trading hours on Friday, reaching $21.59. The stock had a trading volume of 38,726 shares, compared to its average volume of 33,860. The firm has a market capitalization of $192.11 million, a price-to-earnings ratio of -5.11 and a beta of 1.21. The firm has a 50 day simple moving average of $30.74 and a two-hundred day simple moving average of $29.97. Sanara MedTech has a 1 year low of $19.10 and a 1 year high of $38.75. The company has a current ratio of 2.26, a quick ratio of 2.03 and a debt-to-equity ratio of 1.25.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.33. The company had revenue of $26.33 million for the quarter, compared to the consensus estimate of $26.63 million. Sanara MedTech had a negative return on equity of 16.88% and a negative net margin of 36.79%. As a group, equities research analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after buying an additional 1,171 shares during the period. MetLife Investment Management LLC bought a new stake in Sanara MedTech during the 1st quarter worth approximately $82,000. Lazard Asset Management LLC boosted its stake in Sanara MedTech by 63,100.0% in the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after purchasing an additional 3,155 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Sanara MedTech during the 1st quarter worth about $326,000. 8.10% of the stock is currently owned by institutional investors.

Sanara MedTech Company Profile

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.