Sanara MedTech (NASDAQ:SMTI) Now Covered by Analysts at HC Wainwright

Investment analysts at HC Wainwright began coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $50.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 48.46% from the company’s current price.

Sanara MedTech Trading Up 6.6 %

Shares of Sanara MedTech stock opened at $33.68 on Monday. Sanara MedTech has a 1 year low of $26.00 and a 1 year high of $43.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The business has a 50 day moving average price of $34.58 and a 200 day moving average price of $32.12. The company has a market capitalization of $294.40 million, a P/E ratio of -34.02 and a beta of 1.57.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. The company had revenue of $21.67 million during the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same period last year, the firm earned ($0.13) earnings per share. Sell-side analysts anticipate that Sanara MedTech will post -1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors have recently modified their holdings of SMTI. Barclays PLC grew its stake in Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after acquiring an additional 4,376 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after purchasing an additional 3,755 shares during the last quarter. Finally, State Street Corp grew its position in shares of Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after purchasing an additional 4,932 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.