Research Analysts Offer Predictions for Sanara MedTech Inc.'s FY2024 Earnings (NASDAQ:SMTI)

Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) - Research analysts at Cantor Fitzgerald lowered their FY2024 EPS estimates for shares of Sanara MedTech in a report released on Wednesday, May 15th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings per share of ($0.79) for the year, down from their previous estimate of ($0.22). Cantor Fitzgerald currently has a "Overweight" rating and a $44.00 target price on the stock. The consensus estimate for Sanara MedTech's current full-year earnings is ($0.22) per share.

Sanara MedTech Trading Down 3.8 %

SMTI traded down $1.19 during mid-day trading on Friday, hitting $30.51. The stock had a trading volume of 17,457 shares, compared to its average volume of 13,828. The stock's fifty day simple moving average is $34.12 and its 200-day simple moving average is $35.14. The firm has a market capitalization of $263.30 million, a price-to-earnings ratio of -50.85 and a beta of 1.67. Sanara MedTech has a 1-year low of $26.06 and a 1-year high of $46.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.35 and a quick ratio of 1.04.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last released its earnings results on Monday, March 25th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $17.69 million during the quarter. Sanara MedTech had a negative net margin of 7.19% and a negative return on equity of 11.33%.

Institutional Trading of Sanara MedTech

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Sanara MedTech by 3.1% during the first quarter. Vanguard Group Inc. now owns 144,394 shares of the company's stock worth $5,343,000 after acquiring an additional 4,348 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Sanara MedTech by 41.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,369 shares of the company's stock worth $632,000 after purchasing an additional 4,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Sanara MedTech by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,805 shares of the company's stock worth $215,000 after buying an additional 322 shares during the last quarter. Strs Ohio boosted its stake in shares of Sanara MedTech by 112.5% during the 3rd quarter. Strs Ohio now owns 1,700 shares of the company's stock worth $52,000 after acquiring an additional 900 shares during the period. Finally, Gladius Capital Management LP bought a new stake in Sanara MedTech in the 4th quarter valued at $45,000. 8.10% of the stock is owned by institutional investors.

Sanara MedTech Company Profile

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.