Sanara MedTech Inc. (NASDAQ:SMTI) Stock Has Consensus Target Price of $35.00 According to Brokerages

Key Points

• Analyst sentiment is cautious: Five brokerages give Sanara MedTech an average “Reduce” rating, with four holds and one sell. The consensus 12-month price target is $35.00, roughly in line with the stock’s $35.06 opening price.
• Recent quarterly results fell short of expectations: Sanara MedTech reported a $0.05 per-share loss versus the $0.02 expected loss, while revenue of $28.14 million missed estimates of $28.95 million. The company also posted a negative net margin of 29.15%.
• Institutional ownership is growing: BlackRock and Walleye Capital opened new positions, while Renaissance Technologies increased its holdings by 72%. Institutional investors and hedge funds collectively own 8.10% of the company.

Sanara MedTech Inc. (NASDAQ:SMTI - Get Free Report) has received an average rating of "Reduce" from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $35.00.

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Sanara MedTech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. HC Wainwright cut Sanara MedTech from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $36.00 to $35.00 in a research note on Thursday, July 30th. Freedom Capital downgraded shares of Sanara MedTech from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Sanara MedTech from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded shares of Sanara MedTech from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Sanara MedTech in the 2nd quarter valued at $5,870,000. Stonebridge Wealth Management LLC boosted its stake in Sanara MedTech by 1.5% in the first 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 boosted its stake in Sanara MedTech by 11.7% in the first 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. Renaissance Technologies LLC grew its holdings in shares of Sanara MedTech by 72.0% during the first quarter. Renaissance Technologies LLC now owns 64,680 shares of the company's stock worth $1,111,000 after purchasing an additional 27,078 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Sanara MedTech during the second quarter worth about $719,000. Institutional investors and hedge funds own 8.10% of the company's stock.

Sanara MedTech Price Performance

NASDAQ:SMTI opened at $35.06 on Friday. The firm has a market cap of $322.20 million, a price-to-earnings ratio of -9.77 and a beta of 1.16. Sanara MedTech has a one year low of $16.05 and a one year high of $35.34. The firm's fifty day moving average is $33.26 and its two-hundred day moving average is $25.20. 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 (NASDAQ:SMTI - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The firm had revenue of $28.14 million during the quarter, compared to analysts' expectations of $28.95 million. Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. Research analysts expect that Sanara MedTech will post 0.16 EPS for the current year.

About Sanara MedTech

Sanara MedTech Inc is a medical technology company focused on developing and commercializing products for wound care, surgical reconstruction and tissue repair. Its portfolio is designed to support the management of chronic, acute and surgical wounds across a range of clinical settings.

The company's products include advanced wound matrices, collagen-based products, tissue-repair grafts and antimicrobial solutions. Its offerings include the CellerateRX line of collagen products, BIAKOS antimicrobial wound-care products, Restrata synthetic wound matrices and FORTIFY tissue-repair grafts.

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