Cantor Fitzgerald Reaffirms “Overweight” Rating for Sanara MedTech (NASDAQ:SMTI)

Cantor Fitzgerald restated their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $44.00 price target on the stock.

Separately, HC Wainwright started coverage on Sanara MedTech in a report on Monday, December 23rd. They issued a “buy” rating and a $50.00 price objective on the stock.

Sanara MedTech Stock Up 10.9 %

Shares of SMTI opened at $37.72 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The firm has a market cap of $329.67 million, a P/E ratio of -38.10 and a beta of 1.55. The stock’s 50 day moving average is $34.65 and its two-hundred day moving average is $32.80. Sanara MedTech has a 12 month low of $26.00 and a 12 month high of $40.75.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.28. The company had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same period in the previous year, the firm posted ($0.13) EPS. Analysts predict that Sanara MedTech will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after buying an additional 2,272 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sanara MedTech by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after acquiring an additional 3,755 shares during the last quarter. Barclays PLC raised its holdings in Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after acquiring an additional 4,376 shares during the last quarter. State Street Corp boosted its holdings in shares of Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Sanara MedTech in the fourth quarter valued at approximately $898,000. 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.