Sanara MedTech (NASDAQ:SMTI) Coverage Initiated at HC Wainwright

Stock analysts at HC Wainwright initiated coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 43.10% from the stock’s previous close.

Sanara MedTech Stock Performance

SMTI opened at $34.94 on Monday. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $43.25. The company has a market cap of $305.41 million, a price-to-earnings ratio of -35.29 and a beta of 1.57. The company’s fifty day moving average price is $34.62 and its two-hundred day moving average price is $32.19. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The company had revenue of $21.67 million for the quarter. During the same quarter in the prior year, the business earned ($0.13) EPS. On average, analysts expect that Sanara MedTech will post -1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Barclays PLC grew its position 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 purchasing an additional 4,376 shares in the last quarter. State Street Corp lifted its position 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 buying an additional 4,932 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sanara MedTech by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after buying an additional 3,755 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.