Shares of Sanara MedTech Inc. (NASDAQ:SMTI – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $34.00.
Several brokerages have recently weighed in on SMTI. Wall Street Zen upgraded shares of Sanara MedTech from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Lake Street Capital started coverage on Sanara MedTech in a research report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Freedom Capital raised Sanara MedTech to a “strong-buy” rating in a research report on Wednesday.
Read Our Latest Research Report on Sanara MedTech
Sanara MedTech Price Performance
Sanara MedTech (NASDAQ:SMTI – Get Free Report) last announced its earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%.The firm had revenue of $27.55 million for the quarter, compared to the consensus estimate of $27.90 million. On average, sell-side analysts forecast that Sanara MedTech will post 0.16 EPS for the current year.
Institutional Trading of Sanara MedTech
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Sanara MedTech by 351.7% in the 3rd 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 in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Sanara MedTech by 63,100.0% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after buying an additional 3,155 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Sanara MedTech by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock valued at $78,000 after buying an additional 1,457 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after buying an additional 483 shares during the last quarter. 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.
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