Sanara MedTech (NASDAQ:SMTI) Lowered to Hold Rating by Wall Street Zen

Sanara MedTech (NASDAQ:SMTI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other analysts also recently issued reports on SMTI. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of Sanara MedTech in a research report on Monday, January 26th. Zacks Research cut shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Sanara MedTech Price Performance

SMTI opened at $17.24 on Friday. The company has a debt-to-equity ratio of 7.75, a current ratio of 1.80 and a quick ratio of 1.59. The business’s 50-day moving average is $19.49 and its two-hundred day moving average is $23.76. Sanara MedTech has a 1 year low of $16.05 and a 1 year high of $35.95. The firm has a market capitalization of $158.09 million, a PE ratio of -4.08 and a beta of 1.10.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $27.55 million during the quarter, compared to analysts’ expectations of $27.90 million. Sanara MedTech had a negative net margin of 36.42% and a negative return on equity of 20.73%. Research analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Sanara MedTech

Large investors have recently modified their holdings of the stock. Rhumbline Advisers raised 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 valued at $115,000 after acquiring an additional 483 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Sanara MedTech during the 2nd quarter worth about $382,000. Marshall Wace LLP raised its position in Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after purchasing an additional 42,237 shares in the last quarter. Lazard Asset Management LLC raised its position in Sanara MedTech by 63,100.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after purchasing an additional 3,155 shares in the last quarter. Finally, Stonebridge Wealth Management LLC purchased a new position in shares of Sanara MedTech in the 2nd quarter valued at about $3,397,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.