Sanara MedTech (NASDAQ:SMTI) Earns “Overweight” Rating from Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $46.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 56.62% from the company’s previous close.

Separately, HC Wainwright boosted their price target on Sanara MedTech from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday.

Sanara MedTech Trading Down 5.9 %

NASDAQ:SMTI traded down $1.83 during trading hours on Wednesday, hitting $29.37. 4,747 shares of the stock were exchanged, compared to its average volume of 23,227. The company has a market capitalization of $256.72 million, a P/E ratio of -30.36 and a beta of 1.37. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $34.40 and its two-hundred day moving average is $33.82. Sanara MedTech has a twelve month low of $26.00 and a twelve month high of $39.08.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The business had revenue of $26.31 million for the quarter, compared to analyst estimates of $22.75 million. On average, sell-side analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Sanara MedTech by 53.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after buying an additional 663 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Sanara MedTech during the 4th quarter worth about $106,000. Deutsche Bank AG boosted its holdings in shares of Sanara MedTech by 75.4% during the 4th quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock worth $118,000 after buying an additional 1,525 shares during the period. JPMorgan Chase & Co. raised its holdings in Sanara MedTech by 127.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after acquiring an additional 2,272 shares during the period. Finally, Bank of America Corp DE lifted its position in Sanara MedTech by 38.7% during the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after acquiring an additional 1,055 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.