Sanara MedTech (NASDAQ:SMTI) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $32.00 price objective on the stock.

A number of other research analysts have also issued reports on SMTI. Wall Street Zen lowered Sanara MedTech from a “buy” rating to a “hold” rating in a research report on Sunday, April 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Thursday, January 22nd. Zacks Research lowered Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of Sanara MedTech in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.00.

Sanara MedTech Trading Up 8.1%

NASDAQ:SMTI opened at $20.01 on Wednesday. Sanara MedTech has a 12-month low of $16.05 and a 12-month high of $35.95. The firm has a market capitalization of $183.49 million, a P/E ratio of -4.73 and a beta of 1.10. The company has a debt-to-equity ratio of 7.75, a current ratio of 1.80 and a quick ratio of 1.59. The business has a 50 day simple moving average of $18.91 and a 200 day simple moving average of $22.90.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data 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). Sanara MedTech had a negative net margin of 36.42% and a negative return on equity of 20.73%. The company had revenue of $27.55 million for the quarter, compared to analyst estimates of $27.90 million. Equities research analysts predict that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SMTI. Royal Bank of Canada boosted its position in Sanara MedTech by 127.3% during the 4th quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock worth $2,747,000 after acquiring an additional 65,887 shares during the period. Marshall Wace LLP boosted its position in Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,237 shares during the period. Squarepoint Ops LLC boosted its position in Sanara MedTech by 343.4% during the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock worth $996,000 after acquiring an additional 24,305 shares during the period. Stonebridge Wealth Management LLC boosted its position in Sanara MedTech by 17.8% during the 4th quarter. Stonebridge Wealth Management LLC now owns 134,934 shares of the company’s stock worth $3,151,000 after acquiring an additional 20,353 shares during the period. Finally, Jane Street Group LLC acquired a new position in Sanara MedTech during the 4th quarter worth $355,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.