Sanara MedTech (NASDAQ:SMTI) Stock Price Expected to Rise, HC Wainwright Analyst Says

Sanara MedTech (NASDAQ:SMTI) had its target price lifted by equities research analysts at HC Wainwright from $50.00 to $51.00 in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 63.46% from the stock’s current price.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price target on shares of Sanara MedTech in a report on Wednesday, January 22nd.

Sanara MedTech Price Performance

Shares of SMTI opened at $31.20 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The company has a market capitalization of $272.72 million, a price-to-earnings ratio of -31.52 and a beta of 1.37. The business’s 50-day moving average is $34.40 and its 200-day moving average is $33.82. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $39.08.

Sanara MedTech (NASDAQ:SMTI) last released its earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The company had revenue of $26.31 million during the quarter, compared to the consensus estimate of $22.75 million. Equities research analysts expect that Sanara MedTech will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its holdings in Sanara MedTech by 9.6% during the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock valued at $492,000 after buying an additional 1,294 shares in the last quarter. Deutsche Bank AG increased its position in shares of Sanara MedTech by 75.4% during the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after purchasing an additional 1,525 shares during the period. Citadel Advisors LLC raised its stake in shares of Sanara MedTech by 7.3% in the 4th quarter. Citadel Advisors LLC now owns 21,984 shares of the company’s stock valued at $730,000 after buying an additional 1,491 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Sanara MedTech by 38.7% during the 4th quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after acquiring an additional 1,055 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Sanara MedTech during the fourth quarter valued at approximately $106,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.