Sanara MedTech (NASDAQ:SMTI) Cut to Hold at Zacks Research

Zacks Research lowered shares of Sanara MedTech (NASDAQ:SMTI) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research note on Wednesday, October 8th. Finally, HC Wainwright dropped their price objective on Sanara MedTech from $54.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sanara MedTech currently has a consensus rating of “Hold” and an average price target of $41.00.

Sanara MedTech Price Performance

NASDAQ:SMTI opened at $22.25 on Tuesday. The business’s 50-day moving average is $22.83 and its 200 day moving average is $27.44. Sanara MedTech has a 12 month low of $18.90 and a 12 month high of $38.25. The company has a market capitalization of $198.03 million, a P/E ratio of -5.27 and a beta of 1.06. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 7.34.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.09 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $26.63 million. On average, equities research analysts forecast that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Sanara MedTech by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock valued at $5,776,000 after purchasing an additional 6,049 shares during the period. Stonebridge Wealth Management LLC raised its position in Sanara MedTech by 17.8% during the fourth quarter. Stonebridge Wealth Management LLC now owns 134,934 shares of the company’s stock valued at $3,151,000 after buying an additional 20,353 shares during the period. Marshall Wace LLP lifted its stake in Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,237 shares in the last quarter. Squarepoint Ops LLC boosted its position in Sanara MedTech by 343.4% during the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock worth $996,000 after acquiring an additional 24,305 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Sanara MedTech during the 2nd quarter valued at about $382,000. 8.10% of the stock is owned by institutional investors.

About Sanara MedTech

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.