Sanara MedTech (NASDAQ:SMTI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Sanara MedTech (NASDAQ:SMTI) from a strong sell rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Wall Street Zen raised Sanara MedTech from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a report on Tuesday, April 21st. Finally, Lake Street Capital assumed coverage on Sanara MedTech in a report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sanara MedTech has a consensus rating of “Hold” and a consensus target price of $34.00.

Sanara MedTech Stock Performance

NASDAQ:SMTI opened at $21.50 on Wednesday. The stock has a market cap of $196.94 million, a P/E ratio of -5.70 and a beta of 1.21. The stock has a 50 day simple moving average of $20.27 and a 200 day simple moving average of $20.97. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. Sanara MedTech has a 1-year low of $16.05 and a 1-year high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $27.55 million for the quarter, compared to analyst estimates of $27.90 million. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%. Research analysts anticipate that Sanara MedTech will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Sanara MedTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Sanara MedTech by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock valued at $5,776,000 after acquiring an additional 6,049 shares in the last quarter. Stonebridge Wealth Management LLC raised its holdings 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 acquiring an additional 1,965 shares in the last quarter. Royal Bank of Canada raised its holdings in Sanara MedTech by 11.7% in the 1st quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock valued at $2,257,000 after acquiring an additional 13,746 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sanara MedTech by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock valued at $1,846,000 after acquiring an additional 546 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after acquiring an additional 42,237 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.