Sanara MedTech (NASDAQ:SMTI) Upgraded by Freedom Capital to Strong-Buy Rating

Freedom Capital upgraded shares of Sanara MedTech (NASDAQ:SMTI) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other research analysts have also commented on the company. Lake Street Capital initiated coverage on Sanara MedTech in a research report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price target for the company. Wall Street Zen raised Sanara MedTech from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Finally, Zacks Research raised Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sanara MedTech presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Sanara MedTech Price Performance

Shares of SMTI stock opened at $21.22 on Wednesday. Sanara MedTech has a 52-week low of $16.05 and a 52-week high of $35.95. The company has a debt-to-equity ratio of 6.59, a quick ratio of 2.05 and a current ratio of 2.28. The firm has a market capitalization of $194.38 million, a P/E ratio of -5.63 and a beta of 1.21. The stock has a 50 day moving average price of $20.62 and a 200 day moving average price of $21.01.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $27.55 million for the quarter, compared to the consensus estimate of $27.90 million. Sanara MedTech had a negative return on equity of 3.19% and a negative net margin of 31.23%. As a group, sell-side analysts predict that Sanara MedTech will post 0.16 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Sanara MedTech by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 182,032 shares of the company’s stock valued at $5,776,000 after purchasing an additional 6,049 shares during the last quarter. Stonebridge Wealth Management LLC lifted its holdings in shares of Sanara MedTech by 1.5% in the 1st quarter. Stonebridge Wealth Management LLC now owns 136,899 shares of the company’s stock valued at $2,352,000 after buying an additional 1,965 shares during the period. Royal Bank of Canada lifted its holdings in shares of Sanara MedTech by 11.7% in the 1st quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock valued at $2,257,000 after buying an additional 13,746 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sanara MedTech by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock valued at $1,846,000 after buying an additional 546 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Sanara MedTech by 144.3% in the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after buying an additional 42,237 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.