Sanara MedTech (NASDAQ:SMTI) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Sanara MedTech (NASDAQ:SMTI) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities research analysts have also recently issued reports on SMTI. Lake Street Capital cut shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research report on Thursday. Zacks Research raised shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Freedom Capital raised shares of Sanara MedTech to a “strong-buy” rating in a research note on Wednesday, June 17th. HC Wainwright lowered Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $35.00 in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sanara MedTech presently has a consensus rating of “Hold” and an average price target of $35.00.

Sanara MedTech Trading Down 0.6%

NASDAQ SMTI opened at $33.86 on Friday. The stock has a market cap of $310.16 million, a PE ratio of -8.98 and a beta of 1.18. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95. The company’s 50-day moving average price is $24.06 and its 200-day moving average price is $21.36. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59.

Institutional Trading of Sanara MedTech

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of 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. Wells Fargo & Company MN raised its stake in shares of 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 acquiring an additional 1,457 shares in the last quarter. Lazard Asset Management LLC lifted its position in 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 acquiring an additional 3,155 shares during the last quarter. Deutsche Bank AG lifted its position in Sanara MedTech by 171.1% during the fourth 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 last quarter. Finally, Bank of America Corp DE boosted its stake in Sanara MedTech by 44.1% in the third 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 in the last quarter. 8.10% of the stock is 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.