Sanara MedTech (NASDAQ:SMTI) Price Target Raised to $53.00 at HC Wainwright

Sanara MedTech (NASDAQ:SMTI) had its target price raised by research analysts at HC Wainwright from $51.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 69.33% from the stock’s current price.

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price target on shares of Sanara MedTech in a report on Wednesday, March 26th.

Sanara MedTech Stock Performance

SMTI stock opened at $31.30 on Thursday. The stock’s fifty day moving average is $31.08 and its two-hundred day moving average is $33.47. The stock has a market capitalization of $278.19 million, a price-to-earnings ratio of -31.62 and a beta of 1.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. Sanara MedTech has a 1 year low of $25.86 and a 1 year high of $39.08.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The firm had revenue of $23.43 million for the quarter, compared to analyst estimates of $23.48 million. On average, research analysts predict that Sanara MedTech will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTI. GAMMA Investing LLC raised its stake in shares of Sanara MedTech by 8,423.8% in the 1st quarter. GAMMA Investing LLC now owns 1,790 shares of the company’s stock worth $58,000 after buying an additional 1,769 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Sanara MedTech by 53.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after acquiring an additional 663 shares during the period. MetLife Investment Management LLC bought a new stake in Sanara MedTech in the first quarter worth about $82,000. BNP Paribas Financial Markets acquired a new stake in Sanara MedTech in the 4th quarter valued at about $106,000. Finally, Rhumbline Advisers boosted its position 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 purchasing an additional 483 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

Sanara MedTech Company Profile

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.