Lake Street Capital Initiates Coverage on Sanara MedTech (NASDAQ:SMTI)

Lake Street Capital started coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a report issued on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Lake Street Capital’s target price points to a potential upside of 61.78% from the company’s previous close.

A number of other research analysts have also commented on the company. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of Sanara MedTech in a report on Monday, January 26th. Wall Street Zen downgraded Sanara MedTech from a “buy” rating to a “hold” rating in a research report on Sunday, April 5th. Zacks Research downgraded 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 research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.00.

Sanara MedTech Trading Down 1.1%

Shares of NASDAQ SMTI opened at $19.78 on Wednesday. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95. The company has a market cap of $181.38 million, a price-to-earnings ratio of -4.68 and a beta of 1.10. The company has a quick ratio of 1.59, a current ratio of 1.80 and a debt-to-equity ratio of 7.75. The business has a fifty day simple moving average of $18.90 and a 200-day simple moving average of $22.87.

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). Sanara MedTech had a negative net margin of 36.42% and a negative return on equity of 20.73%. The business had revenue of $27.55 million for the quarter, compared to analyst estimates of $27.90 million. Sell-side analysts predict that Sanara MedTech will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

Several institutional investors have recently modified their holdings of SMTI. Rhumbline Advisers grew its stake in 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 during the period. Hsbc Holdings PLC bought a new stake in shares of Sanara MedTech in the second quarter valued at about $382,000. Marshall Wace LLP raised its holdings in Sanara MedTech by 144.3% during the second 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. Lazard Asset Management LLC raised its holdings 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 worth $89,000 after acquiring an additional 3,155 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $351,000 after acquiring an additional 2,315 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.