Sanara MedTech (NASDAQ:SMTI) Stock Rating Upgraded by Freedom Capital

Sanara MedTech (NASDAQ:SMTI) was upgraded by equities research analysts at Freedom Capital to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

SMTI has been the topic of a number of other research reports. Lake Street Capital began coverage on Sanara MedTech in a research report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price target on the stock. Wall Street Zen upgraded Sanara MedTech from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Sanara MedTech Trading Down 6.5%

NASDAQ SMTI opened at $21.22 on Wednesday. The business’s 50-day moving average price is $20.62 and its two-hundred day moving average price is $21.01. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95. The firm has a market capitalization of $194.38 million, a PE ratio of -5.63 and a beta of 1.21. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Sanara MedTech had a negative net margin of 31.23% and a negative return on equity of 3.19%. The company had revenue of $27.55 million during the quarter, compared to the consensus estimate of $27.90 million. On average, analysts expect that Sanara MedTech will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Sanara MedTech by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock worth $5,776,000 after purchasing an additional 6,049 shares in the last quarter. Stonebridge Wealth Management LLC raised its holdings in shares of Sanara MedTech by 1.5% in the 1st quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock worth $2,352,000 after acquiring an additional 1,965 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Sanara MedTech by 11.7% in the 1st quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock worth $2,257,000 after acquiring an additional 13,746 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sanara MedTech by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock worth $1,846,000 after acquiring an additional 546 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,237 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.