Sanara MedTech Inc. (NASDAQ:SMTI) Stock Rated "Reduce" by Wall Street Analysts

Key Points

• Analysts have a consensus “Reduce” rating on Sanara MedTech, with one sell rating and four hold ratings. The average 12-month price target is $35.00, slightly above the reported opening price of $33.14.
• Recent broker actions were broadly negative, including downgrades from Lake Street Capital, HC Wainwright, Freedom Capital, and Wall Street Zen.
• Sanara MedTech missed quarterly expectations, reporting an adjusted loss of $0.05 per share versus the $0.02 expected and revenue of $28.14 million versus the $28.95 million consensus estimate.

Sanara MedTech Inc. (NASDAQ:SMTI - Get Free Report) has been assigned a consensus rating of "Reduce" from the five ratings firms that are currently covering the stock, Marketbeat 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 twelve-month price objective among brokers that have covered the stock in the last year is $35.00.

A number of brokerages have recently commented on SMTI. Weiss Ratings raised Sanara MedTech from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded Sanara MedTech from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. 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. HC Wainwright lowered shares of 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 report on Thursday, July 30th. Finally, Freedom Capital downgraded shares of Sanara MedTech from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd.

Sanara MedTech Price Performance

Shares of NASDAQ SMTI opened at $33.14 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.30 and a debt-to-equity ratio of 5.86. The company has a market cap of $304.49 million, a price-to-earnings ratio of -9.23 and a beta of 1.19. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.52. The stock has a 50-day moving average price of $34.73 and a two-hundred day moving average price of $27.19.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last issued 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). Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%. The firm had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. As a group, analysts forecast that Sanara MedTech will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Sanara MedTech during the second quarter worth $5,870,000. Walleye Capital LLC acquired a new stake in Sanara MedTech in the second quarter valued at $719,000. Renaissance Technologies LLC increased its holdings in Sanara MedTech by 72.0% in the first quarter. Renaissance Technologies LLC now owns 64,680 shares of the company's stock valued at $1,111,000 after purchasing an additional 27,078 shares during the period. Hsbc Holdings PLC acquired a new stake in Sanara MedTech in the second quarter valued at $550,000. Finally, Bank of America Corp DE acquired a new stake in Sanara MedTech in the second quarter valued at $376,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Sanara MedTech Company Profile

Sanara MedTech Inc is a medical technology company focused on developing, commercializing and distributing products designed to support surgical procedures and the management of complex wounds. Its offerings are intended for use by hospitals, surgical centers, wound-care providers and other healthcare professionals.

The company's portfolio includes advanced wound-care technologies such as CellerateRX® products, which are collagen-based products used to support the healing process, and BIAKŌS® antimicrobial wound-care products.

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