Sanara MedTech (NASDAQ:SMTI) Upgraded to "Buy" at Wall Street Zen

Key Points

• Sanara MedTech has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive investor sentiment.
• HC Wainwright raised the target price for Sanara MedTech from $53.00 to $54.00, reflecting increasing confidence in the company's growth potential.
• Despite reporting a loss of ($0.23) earnings per share, the company exceeded analyst estimates and reported revenue of $25.83 million for the quarter.

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

Separately, HC Wainwright boosted their target price on Sanara MedTech from $53.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sanara MedTech has a consensus rating of "Buy" and a consensus price target of $50.00.

Sanara MedTech Price Performance

NASDAQ:SMTI traded up $0.07 during mid-day trading on Friday, reaching $35.08. The stock had a trading volume of 20,864 shares, compared to its average volume of 33,283. The firm has a 50 day moving average price of $29.70 and a two-hundred day moving average price of $30.17. The stock has a market capitalization of $312.28 million, a P/E ratio of -30.24 and a beta of 1.19. Sanara MedTech has a one year low of $23.53 and a one year high of $39.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.03 and a current ratio of 2.26.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.10. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%.The firm had revenue of $25.83 million during the quarter, compared to the consensus estimate of $25.15 million. As a group, analysts expect that Sanara MedTech will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Stonebridge Wealth Management LLC bought a new position in Sanara MedTech in the second quarter valued at about $3,397,000. Marshall Wace LLP raised its stake in shares of Sanara MedTech by 144.3% in the second quarter. Marshall Wace LLP now owns 71,511 shares of the company's stock worth $2,030,000 after buying an additional 42,237 shares during the period. Northern Trust Corp raised its stake in shares of Sanara MedTech by 0.9% in the fourth quarter. Northern Trust Corp now owns 40,816 shares of the company's stock worth $1,355,000 after buying an additional 358 shares during the period. Citadel Advisors LLC raised its stake in shares of Sanara MedTech by 7.3% in the fourth quarter. Citadel Advisors LLC now owns 21,984 shares of the company's stock worth $730,000 after buying an additional 1,491 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sanara MedTech by 116.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,925 shares of the company's stock worth $529,000 after buying an additional 8,567 shares during the period. 8.10% of the stock is owned by institutional investors.

About Sanara MedTech

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.