Wall Street Zen Downgrades Sanara MedTech (NASDAQ:SMTI) to Hold

Sanara MedTech (NASDAQ:SMTI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts also recently commented on SMTI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Wednesday, October 8th. HC Wainwright upped their price objective on shares of Sanara MedTech from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.00.

Sanara MedTech Price Performance

NASDAQ SMTI opened at $29.30 on Friday. Sanara MedTech has a fifty-two week low of $23.53 and a fifty-two week high of $39.08. The stock’s 50-day moving average is $32.07 and its two-hundred day moving average is $30.19. The firm has a market cap of $260.77 million, a P/E ratio of -25.26 and a beta of 1.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.10. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%.The company had revenue of $25.83 million during the quarter, compared to the consensus estimate of $25.15 million. On average, analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Wealth Management LLC bought a new stake in Sanara MedTech in the 2nd quarter valued at $3,397,000. Marshall Wace LLP lifted its stake in shares of Sanara MedTech by 144.3% in the second quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after buying an additional 42,237 shares during the period. Bank of New York Mellon Corp grew its position in Sanara MedTech by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company’s stock worth $428,000 after buying an additional 826 shares in the last quarter. Hsbc Holdings PLC bought a new position in Sanara MedTech during the second quarter valued at about $382,000. Finally, Stephens Inc. AR increased its stake in Sanara MedTech by 18.0% during the second quarter. Stephens Inc. AR now owns 12,794 shares of the company’s stock valued at $363,000 after acquiring an additional 1,952 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.