Sanara MedTech (NASDAQ:SMTI) Upgraded at Zacks Research

Zacks Research upgraded shares of Sanara MedTech (NASDAQ:SMTI) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Wednesday, October 8th. HC Wainwright cut their price target on shares of Sanara MedTech from $54.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sanara MedTech has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $24.39 on Monday. Sanara MedTech has a 52 week low of $18.90 and a 52 week high of $38.68. 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 business has a 50 day moving average price of $23.61 and a 200-day moving average price of $27.85. The company has a market cap of $217.07 million, a PE ratio of -5.78 and a beta of 1.06.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTI. Stonebridge Wealth Management LLC increased its stake in shares of 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 purchasing an additional 20,353 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Sanara MedTech by 26.5% during the third quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock valued at $351,000 after purchasing an additional 2,315 shares during the period. Bank of America Corp DE increased its position in Sanara MedTech by 44.1% in the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after buying an additional 973 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Sanara MedTech by 343.4% in the third quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after buying an additional 24,305 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after buying an additional 1,171 shares during the period. 8.10% of the stock is currently owned by hedge funds and other 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.