Sanara MedTech (NASDAQ:SMTI) Releases Quarterly Earnings Results

Sanara MedTech (NASDAQ:SMTI) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), FiscalAI reports. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%.The business had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.95 million.

Sanara MedTech Stock Performance

Shares of NASDAQ:SMTI traded up $0.13 during mid-day trading on Tuesday, reaching $34.38. The company had a trading volume of 367,130 shares, compared to its average volume of 98,561. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The firm has a market cap of $314.92 million, a price-to-earnings ratio of -9.12 and a beta of 1.12. The company’s 50-day moving average price is $25.39 and its 200-day moving average price is $21.81. Sanara MedTech has a one year low of $16.05 and a one year high of $35.95.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Wall Street Zen lowered Sanara MedTech from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. HC Wainwright cut Sanara MedTech from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $35.00 in a research report on Thursday, July 30th. Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $35.00.

Institutional Trading of Sanara MedTech

Large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in 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 buying an additional 483 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sanara MedTech by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock valued at $1,846,000 after buying an additional 546 shares during the last quarter. State Street Corp lifted its position in shares of Sanara MedTech by 1.1% during the 4th quarter. State Street Corp now owns 62,289 shares of the company’s stock valued at $1,454,000 after buying an additional 690 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Sanara MedTech by 44.1% during the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after acquiring an additional 973 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Sanara MedTech by 351.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after acquiring an additional 1,171 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Sanara MedTech

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.