Sanara MedTech (NASDAQ:SMTI) Issues Earnings Results, Beats Expectations By $0.33 EPS

Sanara MedTech (NASDAQ:SMTI) released its quarterly earnings data on Wednesday. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.33, Zacks reports. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%.

Sanara MedTech Trading Down 23.8%

Shares of SMTI traded down $6.66 during mid-day trading on Wednesday, reaching $21.38. The company’s stock had a trading volume of 225,405 shares, compared to its average volume of 32,604. Sanara MedTech has a 52 week low of $20.79 and a 52 week high of $39.08. The company has a current ratio of 2.26, a quick ratio of 2.03 and a debt-to-equity ratio of 1.25. The company’s fifty day moving average price is $31.28 and its two-hundred day moving average price is $30.10. The stock has a market cap of $190.32 million, a PE ratio of -18.48 and a beta of 1.21.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SMTI shares. HC Wainwright increased their price objective on Sanara MedTech from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sanara MedTech has an average rating of “Hold” and an average target price of $50.00.

Hedge Funds Weigh In On Sanara MedTech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Sanara MedTech by 26.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock worth $351,000 after buying an additional 2,315 shares during the period. Lazard Asset Management LLC grew its position in shares of Sanara MedTech by 63,100.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after buying an additional 3,155 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sanara MedTech by 3.4% during the third quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock valued at $5,776,000 after buying an additional 6,049 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Sanara MedTech during the second quarter valued at approximately $382,000. 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.