Sanara MedTech (NASDAQ:SMTI) Issues Quarterly Earnings Results

Sanara MedTech (NASDAQ:SMTI) announced its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.22), FiscalAI reports. Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. The business had revenue of $28.43 million for the quarter, compared to analyst estimates of $29.30 million.

Sanara MedTech Stock Performance

NASDAQ:SMTI traded up $0.93 during mid-day trading on Thursday, hitting $32.54. 65,914 shares of the stock were exchanged, compared to its average volume of 129,622. The stock has a market capitalization of $299.04 million, a price-to-earnings ratio of -9.06 and a beta of 1.23. The firm’s 50-day simple moving average is $34.07 and its 200 day simple moving average is $25.89. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.30 and a current ratio of 2.58. Sanara MedTech has a fifty-two week low of $16.05 and a fifty-two week high of $35.52.

Wall Street Analyst Weigh In

Several equities analysts have commented on SMTI shares. Freedom Capital downgraded shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. HC Wainwright cut shares of Sanara MedTech from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sanara MedTech in a report on Wednesday, November 4th. Lake Street Capital downgraded shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $35.00.

Sanara MedTech Company Profile

Sanara MedTech, Inc. develops, markets and distributes medical products for wound care, surgical tissue repair and related applications. Its offerings are intended for use by healthcare professionals treating acute and chronic wounds and supporting tissue healing. The company’s portfolio includes CellerateRX® collagen-based products and BIAK?S® antimicrobial products, along with other solutions for wound and surgical care. Sanara sells its products to healthcare providers and through distribution channels.