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

Sanara MedTech (NASDAQ:SMTI) had its price objective cut by HC Wainwright from $54.00 to $36.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

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

Sanara MedTech Stock Performance

Sanara MedTech stock opened at $21.54 on Friday. Sanara MedTech has a 12-month low of $19.10 and a 12-month high of $38.75. The company has a debt-to-equity ratio of 7.34, a current ratio of 1.80 and a quick ratio of 1.60. The company has a market capitalization of $191.71 million, a price-to-earnings ratio of -5.10 and a beta of 1.21. The firm’s fifty day moving average price is $30.50 and its 200 day moving average price is $29.87.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.33. Sanara MedTech had a negative net margin of 36.79% and a negative return on equity of 21.33%. The company had revenue of $26.33 million during the quarter, compared to analysts’ expectations of $26.63 million. On average, research analysts forecast that Sanara MedTech will post -1.1 EPS for the current fiscal year.

Institutional Trading of Sanara MedTech

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $428,000 after purchasing an additional 826 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after purchasing an additional 1,171 shares during the period. Stephens Inc. AR grew its position in Sanara MedTech by 18.0% in the 2nd quarter. Stephens Inc. AR now owns 12,794 shares of the company’s stock valued at $363,000 after buying an additional 1,952 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Sanara MedTech by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock valued at $351,000 after buying an additional 2,315 shares during the period. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.