Sanara MedTech (NASDAQ:SMTI) Downgraded by Zacks Research to Strong Sell

Sanara MedTech (NASDAQ:SMTI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Lake Street Capital assumed coverage on shares of Sanara MedTech in a research report on Wednesday, April 15th. They set a “buy” rating and a $32.00 target price on the stock. Wall Street Zen lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Sanara MedTech in a research note on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.00.

Sanara MedTech Price Performance

Sanara MedTech stock opened at $21.10 on Tuesday. Sanara MedTech has a 52 week low of $16.05 and a 52 week high of $35.95. The company’s 50 day moving average price is $18.74 and its two-hundred day moving average price is $21.44. The company has a quick ratio of 1.59, a current ratio of 1.80 and a debt-to-equity ratio of 7.75. The stock has a market cap of $193.28 million, a P/E ratio of -5.60 and a beta of 1.16.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Tuesday, March 24th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). Sanara MedTech had a negative return on equity of 2.74% 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, equities analysts predict that Sanara MedTech will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC grew its stake in Sanara MedTech by 12.1% in the 1st quarter. Hsbc Holdings PLC now owns 17,283 shares of the company’s stock valued at $301,000 after buying an additional 1,869 shares in the last quarter. Stonebridge Wealth Management LLC grew its stake in Sanara MedTech by 1.5% in the 1st quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock valued at $2,352,000 after buying an additional 1,965 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Sanara MedTech in the 4th quarter valued at approximately $299,000. NewEdge Advisors LLC purchased a new position in Sanara MedTech in the 4th quarter valued at approximately $243,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Sanara MedTech by 31.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,698 shares of the company’s stock valued at $204,000 after buying an additional 2,100 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Sanara MedTech Company Profile

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.