Brokerages Set Sanara MedTech Inc. (NASDAQ:SMTI) Price Target at $34.00

Sanara MedTech Inc. (NASDAQ:SMTI) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of research firms recently weighed in on SMTI. Lake Street Capital assumed coverage on shares of Sanara MedTech in a research report on Wednesday, April 15th. They set a “buy” rating and a $32.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Sanara MedTech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Finally, Freedom Capital upgraded Sanara MedTech to a “strong-buy” rating in a research note on Wednesday, June 17th.

Sanara MedTech Price Performance

Shares of NASDAQ:SMTI opened at $25.00 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59. The stock’s fifty day simple moving average is $22.84 and its two-hundred day simple moving average is $21.07. Sanara MedTech has a 1-year low of $16.05 and a 1-year high of $35.95. The stock has a market cap of $229 million, a PE ratio of -6.63 and a beta of 1.18.

Institutional Trading of Sanara MedTech

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after purchasing an additional 483 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Sanara MedTech in the 2nd quarter worth about $382,000. Marshall Wace LLP grew its position in Sanara MedTech by 144.3% during the second 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. Lazard Asset Management LLC increased its holdings in Sanara MedTech by 63,100.0% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after buying an additional 3,155 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sanara MedTech by 26.5% during the third quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock worth $351,000 after buying an additional 2,315 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.