Sanara MedTech (NASDAQ:SMTI) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Sanara MedTech from “strong buy” to “buy,” while broader analyst sentiment remains “hold” with a consensus price target of $35.
• Other recent analyst actions were mixed: Lake Street Capital and HC Wainwright lowered their ratings to “hold” and “neutral,” respectively, while Freedom Capital upgraded the stock to “strong buy.”
• Sanara MedTech shares opened at $33.86, near their one-year high of $35.95, and institutional investors own 8.1% of the company.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Lake Street Capital cut Sanara MedTech from a "buy" rating to a "hold" rating and set a $35.00 target price for the company. in a research note on Thursday. Zacks Research upgraded Sanara MedTech from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sanara MedTech in a research note on Friday, July 17th. HC Wainwright lowered Sanara MedTech from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $36.00 to $35.00 in a research note on Thursday. Finally, Freedom Capital upgraded Sanara MedTech to a "strong-buy" rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Sanara MedTech presently has an average rating of "Hold" and a consensus price target of $35.00.

Sanara MedTech Stock Performance

NASDAQ SMTI opened at $33.86 on Friday. The firm's 50 day simple moving average is $24.06 and its 200 day simple moving average is $21.36. The firm has a market capitalization of $310.16 million, a price-to-earnings ratio of -8.98 and a beta of 1.18. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. Sanara MedTech has a 1 year low of $16.05 and a 1 year high of $35.95.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Sanara MedTech by 3.4% in the third quarter. Vanguard Group Inc. now owns 182,032 shares of the company's stock valued at $5,776,000 after purchasing an additional 6,049 shares during the last quarter. Stonebridge Wealth Management LLC grew its holdings in shares of Sanara MedTech by 1.5% during the first quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company's stock worth $2,352,000 after purchasing an additional 1,965 shares during the last quarter. Royal Bank of Canada increased its stake in shares of 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 buying an additional 13,746 shares during the period. Geode Capital Management LLC increased its stake in shares of Sanara MedTech by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 79,049 shares of the company's stock valued at $1,846,000 after buying an additional 546 shares during the period. Finally, Marshall Wace LLP raised its holdings in Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company's stock valued at $2,030,000 after buying an additional 42,237 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Sanara MedTech Company Profile

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.