Sanara MedTech (NASDAQ:SMTI) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Sanara MedTech (NASDAQ:SMTI) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other research firms also recently issued reports on SMTI. Lake Street Capital began coverage on Sanara MedTech in a research note on Wednesday, April 15th. They set a “buy” rating and a $32.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of Sanara MedTech in a research note on Monday, January 26th. Finally, Zacks Research downgraded Sanara MedTech from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.00.

Sanara MedTech Price Performance

SMTI stock opened at $21.06 on Friday. The company has a market capitalization of $192.91 million, a P/E ratio of -5.59 and a beta of 1.16. The company has a debt-to-equity ratio of 6.59, a quick ratio of 1.59 and a current ratio of 2.28. Sanara MedTech has a 52-week low of $16.05 and a 52-week high of $35.95. The business has a 50-day simple moving average of $18.78 and a two-hundred day simple moving average of $21.37.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly 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 analyst estimates of $27.90 million. Sanara MedTech had a negative net margin of 31.23% and a negative return on equity of 3.19%. Research analysts expect that Sanara MedTech will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

Several institutional investors have recently bought and sold shares of SMTI. Royal Bank of Canada lifted its stake in Sanara MedTech by 127.3% in the fourth quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock valued at $2,747,000 after purchasing an additional 65,887 shares during the last quarter. Marshall Wace LLP raised its holdings in Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after acquiring an additional 42,237 shares during the period. Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 27,078 shares during the period. Squarepoint Ops LLC raised its holdings in Sanara MedTech by 343.4% during the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after acquiring an additional 24,305 shares during the period. Finally, Stonebridge Wealth Management LLC raised its holdings in Sanara MedTech by 17.8% during the 4th quarter. Stonebridge Wealth Management LLC now owns 134,934 shares of the company’s stock valued at $3,151,000 after acquiring an additional 20,353 shares during the period. Hedge funds and other institutional investors 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.