HC Wainwright Weighs in on Sanara MedTech FY2024 Earnings

Sanara MedTech Inc. (NASDAQ:SMTI) – HC Wainwright issued their FY2024 earnings per share estimates for shares of Sanara MedTech in a report released on Monday, December 23rd. HC Wainwright analyst Y. Chen expects that the company will post earnings per share of ($1.24) for the year. HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.42) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.96) EPS.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. The firm 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 quarter in the prior year, the firm earned ($0.13) earnings per share.

Sanara MedTech Trading Up 2.4 %

NASDAQ:SMTI opened at $34.94 on Wednesday. The company has a market cap of $305.41 million, a PE ratio of -35.29 and a beta of 1.57. 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 company has a 50 day simple moving average of $34.68 and a two-hundred day simple moving average of $32.22. Sanara MedTech has a 12 month low of $26.00 and a 12 month high of $43.25.

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently modified their holdings of SMTI. Geode Capital Management LLC lifted its holdings in Sanara MedTech by 4.4% in the third 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 period. Barclays PLC grew its stake in shares of Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares during the period. Finally, State Street Corp increased 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 valued at $1,775,000 after purchasing an additional 4,932 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.