Sanara MedTech (NASDAQ:SMTI) Stock Price Up 2% – Here’s Why

Shares of Sanara MedTech Inc. (NASDAQ:SMTI) traded up 2% on Monday . The stock traded as high as $24.35 and last traded at $23.56. 58,532 shares traded hands during mid-day trading, an increase of 56% from the average session volume of 37,598 shares. The stock had previously closed at $23.10.

Analyst Upgrades and Downgrades

SMTI has been the topic of several recent analyst reports. Wall Street Zen cut shares of 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 research report on Wednesday, October 8th. Finally, HC Wainwright decreased their price objective on shares of Sanara MedTech from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.00.

Sanara MedTech Trading Up 2.0%

The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 7.34. The firm’s fifty day moving average is $23.82 and its two-hundred day moving average is $27.89. The firm has a market cap of $209.68 million, a P/E ratio of -5.58 and a beta of 1.06.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.33. The business had revenue of $26.33 million during the quarter, compared to analyst estimates of $26.63 million. Sanara MedTech had a negative net margin of 36.79% and a negative return on equity of 21.33%. Analysts predict that Sanara MedTech Inc. will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Sanara MedTech

Several large investors have recently bought and sold shares of SMTI. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 1,171 shares during the period. MetLife Investment Management LLC bought a new position in Sanara MedTech in the first quarter worth $82,000. Lazard Asset Management LLC lifted its position in Sanara MedTech by 63,100.0% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after buying an additional 3,155 shares during the period. Bank of America Corp DE lifted its position in Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after buying an additional 483 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.