Sanara MedTech (NASDAQ:SMTI) Downgraded to “Hold” Rating by Freedom Capital

Sanara MedTech (NASDAQ:SMTI) was downgraded by stock analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Zacks Research raised shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Lake Street Capital downgraded shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Thursday. Wall Street Zen lowered shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a report on Friday, July 17th. Finally, HC Wainwright downgraded Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $35.00 in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $35.00.

Sanara MedTech Trading Up 0.4%

Shares of Sanara MedTech stock opened at $34.00 on Monday. Sanara MedTech has a 12-month low of $16.05 and a 12-month high of $35.95. The company has a market cap of $311.44 million, a price-to-earnings ratio of -9.02 and a beta of 1.12. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The company’s 50-day moving average price is $24.28 and its 200-day moving average price is $21.41.

Hedge Funds Weigh In On Sanara MedTech

A number of hedge funds and other institutional investors have recently modified their holdings of SMTI. Royal Bank of Canada raised its holdings in shares of Sanara MedTech by 127.3% during the 4th quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock valued at $2,747,000 after buying an additional 65,887 shares in the last quarter. Marshall Wace LLP boosted its stake in 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 in the last quarter. Walleye Capital LLC purchased a new stake in Sanara MedTech in the second quarter worth approximately $719,000. Renaissance Technologies LLC grew its position in Sanara MedTech by 72.0% during the first quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after acquiring an additional 27,078 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Sanara MedTech by 343.4% during the third quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after acquiring an additional 24,305 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.