Sanara MedTech Inc. (NASDAQ:SMTI) Short Interest Update

Key Points

• Short interest fell 42.8% to 216,090 shares as of July 31, representing 4.1% of outstanding shares and just 0.5 days of average trading volume.
• Analyst sentiment has weakened, with several firms downgrading the stock; consensus is now “Reduce,” with an average price target of $35.00.
• Sanara MedTech shares traded near $34.12, while the company’s latest quarterly results missed expectations, reporting a $0.05 loss per share versus the expected $0.02 loss and revenue of $28.14 million versus $28.95 million estimated.

Sanara MedTech Inc. (NASDAQ:SMTI - Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 216,090 shares, a decrease of 42.8% from the July 15th total of 377,539 shares. Based on an average daily volume of 401,044 shares, the short-interest ratio is presently 0.5 days. Currently, 4.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SMTI shares. Zacks Research raised Sanara MedTech from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. 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 lowered shares of Sanara MedTech from a "buy" rating to a "hold" rating and set a $35.00 price objective for the company. in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Sanara MedTech from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Finally, HC Wainwright lowered shares of Sanara MedTech from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $36.00 to $35.00 in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $35.00.

Sanara MedTech Trading Down 0.1%

Shares of NASDAQ SMTI traded down $0.03 during midday trading on Monday, reaching $34.12. The stock had a trading volume of 74,000 shares, compared to its average volume of 104,750. The company's 50 day moving average price is $26.40 and its 200 day moving average price is $22.15. 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 has a twelve month low of $16.05 and a twelve month high of $35.95. The firm has a market cap of $313.53 million, a price-to-earnings ratio of -9.50 and a beta of 1.12.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $28.95 million. As a group, sell-side analysts expect that Sanara MedTech will post 0.16 EPS for the current year.

Institutional Trading of Sanara MedTech

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company's stock valued at $48,000 after purchasing an additional 1,171 shares during the period. Lazard Asset Management LLC grew its stake in Sanara MedTech by 63,100.0% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company's stock worth $89,000 after purchasing an additional 3,155 shares during the period. Bank of America Corp DE grew its stake in Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company's stock worth $101,000 after purchasing an additional 973 shares during the period. Wells Fargo & Company MN increased its holdings in Sanara MedTech by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company's stock worth $78,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company's stock worth $115,000 after purchasing an additional 483 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source