Sanara MedTech (NASDAQ:SMTI) Cut to “Neutral” at HC Wainwright

Sanara MedTech (NASDAQ:SMTI) was downgraded by stock analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report released on Thursday, MarketBeat Ratings reports. They presently have a $35.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 15.53% from the company’s previous close.

Several other analysts also recently issued reports on the company. Wall Street Zen raised Sanara MedTech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a report on Friday, July 17th. Freedom Capital upgraded Sanara MedTech to a “strong-buy” rating in a research note on Wednesday, June 17th. Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Lake Street Capital initiated coverage on shares of Sanara MedTech in a report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sanara MedTech currently has an average rating of “Hold” and a consensus price target of $33.50.

Sanara MedTech Trading Up 13.7%

SMTI opened at $30.29 on Thursday. The stock has a market capitalization of $277.49 million, a P/E ratio of -8.04 and a beta of 1.18. 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 has a 12 month low of $16.05 and a 12 month high of $35.95. The firm’s fifty day simple moving average is $23.64 and its 200 day simple moving average is $21.20.

Institutional Trading of Sanara MedTech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Sanara MedTech by 127.3% in the fourth quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock valued at $2,747,000 after acquiring an additional 65,887 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after purchasing an additional 42,237 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Sanara MedTech by 72.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after purchasing an additional 27,078 shares during the period. Squarepoint Ops LLC lifted its stake in Sanara MedTech by 343.4% in the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after purchasing an additional 24,305 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Sanara MedTech in the 4th quarter valued at about $355,000. 8.10% of the stock is owned by 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.