Sanara MedTech's (SMTI) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has restated its "sell (e+)" rating for Sanara MedTech's (SMTI) stock, indicating a negative outlook from this equity research firm.
• Sanara MedTech reported a quarterly earnings per share (EPS) of ($0.23), beating analysts' expectations, with revenue of $25.83 million for the quarter.
• Despite the mixed ratings, the stock currently has an average target price of $50.00 and has a market capitalization of $287.74 million.

Sanara MedTech (NASDAQ:SMTI - Get Free Report)'s stock had its "sell (e+)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on SMTI. HC Wainwright lifted their price objective on shares of Sanara MedTech from $53.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Wall Street Zen raised shares of Sanara MedTech from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $50.00.

Sanara MedTech Stock Performance

Shares of NASDAQ:SMTI opened at $32.33 on Wednesday. The company's 50 day simple moving average is $31.41 and its 200 day simple moving average is $30.16. The stock has a market capitalization of $287.74 million, a price-to-earnings ratio of -27.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03. Sanara MedTech has a 1 year low of $23.53 and a 1 year high of $39.08.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.10. The business had revenue of $25.83 million for the quarter, compared to analysts' expectations of $25.15 million. Sanara MedTech had a negative net margin of 10.22% and a negative return on equity of 26.43%. As a group, research analysts predict that Sanara MedTech will post -1.1 EPS for the current fiscal year.

Institutional Trading of Sanara MedTech

Hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in Sanara MedTech in the first quarter valued at approximately $326,000. GAMMA Investing LLC lifted its holdings in shares of Sanara MedTech by 8,423.8% during the first quarter. GAMMA Investing LLC now owns 1,790 shares of the company's stock worth $58,000 after purchasing an additional 1,769 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sanara MedTech by 38.7% during the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company's stock worth $125,000 after purchasing an additional 1,055 shares during the period. Rhumbline Advisers lifted its holdings in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company's stock worth $115,000 after purchasing an additional 483 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Sanara MedTech by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company's stock worth $428,000 after purchasing an additional 826 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.