Sanara MedTech (NASDAQ:SMTI) Posts Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Sanara MedTech reported a quarterly earnings per share of ($0.23), exceeding analyst expectations of ($0.33) by $0.10.
• The company recorded a revenue of $25.83 million, surpassing estimates of $25.15 million.
• Following the earnings release, Sanara MedTech's stock price fell by 6.5%, trading down to $29.84 per share.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.10, Zacks reports. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%. The company had revenue of $25.83 million for the quarter, compared to the consensus estimate of $25.15 million.

Sanara MedTech Stock Up 5.5%

NASDAQ SMTI traded up $1.63 on Monday, reaching $31.31. The stock had a trading volume of 4,896 shares, compared to its average volume of 33,547. The business has a 50 day moving average price of $27.67 and a 200 day moving average price of $30.41. Sanara MedTech has a 1 year low of $23.53 and a 1 year high of $39.08. The company has a market capitalization of $278.61 million, a price-to-earnings ratio of -26.91 and a beta of 1.26. The company has a current ratio of 2.26, a quick ratio of 2.03 and a debt-to-equity ratio of 1.25.

Wall Street Analyst Weigh In

Separately, HC Wainwright set a $54.00 price target on Sanara MedTech and gave the company a "buy" rating in a research report on Monday.

Institutional Trading of Sanara MedTech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its holdings in Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company's stock valued at $2,030,000 after purchasing an additional 42,237 shares in the last quarter. Hsbc Holdings PLC bought a new position in Sanara MedTech in the 2nd quarter valued at $382,000. Rhumbline Advisers boosted its position in Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company's stock valued at $115,000 after buying an additional 483 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Sanara MedTech by 63,100.0% in the 2nd 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 last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

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.