Sanara MedTech (NASDAQ:SMTI) Issues Earnings Results, Misses Estimates By $0.22 EPS

Sanara MedTech (NASDAQ:SMTI) posted its quarterly earnings data on Thursday. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.22), FiscalAI reports. Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%. The firm had revenue of $28.43 million during the quarter, compared to analyst estimates of $29.30 million.

Sanara MedTech Stock Up 2.9%

Shares of SMTI stock traded up $0.93 during trading on Thursday, hitting $32.54. 65,917 shares of the company were exchanged, compared to its average volume of 129,659. The business’s 50-day simple moving average is $34.02 and its 200 day simple moving average is $25.95. Sanara MedTech has a twelve month low of $16.05 and a twelve month high of $35.52. The firm has a market capitalization of $299.04 million, a price-to-earnings ratio of -9.06 and a beta of 1.23. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.30 and a current ratio of 2.58.

Wall Street Analysts Forecast Growth

SMTI has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Sanara MedTech in a research note on Wednesday, November 4th. Freedom Capital cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Thursday, July 30th. HC Wainwright downgraded Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $35.00 in a report on Thursday, July 30th. Finally, Wall Street Zen lowered Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $35.00.

About Sanara MedTech

Sanara MedTech, Inc. develops, markets and distributes medical products for wound care, surgical tissue repair and related applications. Its offerings are intended for use by healthcare professionals treating acute and chronic wounds and supporting tissue healing. The company’s portfolio includes CellerateRX® collagen-based products and BIAKŌS® antimicrobial products, along with other solutions for wound and surgical care. Sanara sells its products to healthcare providers and through distribution channels.