Sanara MedTech Inc. (NASDAQ:SMTI) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Sanara MedTech Inc. (NASDAQ:SMTIGet Free Report) have been given an average rating of “Reduce” by the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $35.00.

Several equities research analysts have recently commented on SMTI shares. Freedom Capital downgraded shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research report on Thursday, July 30th. HC Wainwright lowered Sanara MedTech from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th. Weiss Ratings raised Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st.

Get Our Latest Stock Analysis on SMTI

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $34.88 on Tuesday. The company has a 50 day moving average price of $29.14 and a 200 day moving average price of $23.21. The firm has a market capitalization of $320.55 million, a P/E ratio of -9.72 and a beta of 1.12. The company has a quick ratio of 2.30, a current ratio of 2.58 and a debt-to-equity ratio of 5.86. Sanara MedTech has a 52 week low of $16.05 and a 52 week high of $35.95.

Sanara MedTech (NASDAQ:SMTIGet Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%.The company had revenue of $28.14 million for the quarter, compared to analysts’ expectations of $28.95 million. Sell-side analysts expect that Sanara MedTech will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in Sanara MedTech by 351.7% in the third 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 during the last quarter. Wells Fargo & Company MN raised its position in Sanara MedTech by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after buying an additional 1,457 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Sanara MedTech by 63,100.0% during the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after acquiring an additional 3,155 shares during the period. Deutsche Bank AG lifted its stake in Sanara MedTech by 171.1% during the 4th quarter. Deutsche Bank AG now owns 3,985 shares of the company’s stock valued at $93,000 after acquiring an additional 2,515 shares during the period. Finally, Bank of America Corp DE lifted its stake in Sanara MedTech by 44.1% during the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after acquiring an additional 973 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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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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Analyst Recommendations for Sanara MedTech (NASDAQ:SMTI)

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