Sanara MedTech (NASDAQ:SMTI) Downgraded to Neutral Rating by HC Wainwright

Sanara MedTech (NASDAQ:SMTI) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $35.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 15.53% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research note on Friday, July 17th. Wall Street Zen upgraded Sanara MedTech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Lake Street Capital began coverage on shares of Sanara MedTech in a research report on Wednesday, April 15th. They set a “buy” rating and a $32.00 target price on the stock. Freedom Capital upgraded shares of Sanara MedTech to a “strong-buy” rating in a research report on Wednesday, June 17th. Finally, Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. 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 assigned a Sell rating to the company. According to data from MarketBeat, Sanara MedTech presently has an average rating of “Hold” and an average target price of $33.50.

Sanara MedTech Price Performance

SMTI opened at $30.29 on Thursday. The company has a debt-to-equity ratio of 6.59, a current ratio of 2.28 and a quick ratio of 2.05. 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’s 50 day simple moving average is $23.64 and its 200-day simple moving average is $21.20. Sanara MedTech has a one year low of $16.05 and a one year high of $35.95.

Institutional Investors Weigh In On Sanara MedTech

Large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares in the last quarter. Geode Capital Management LLC raised its stake in Sanara MedTech by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock worth $1,846,000 after buying an additional 546 shares during the period. State Street Corp raised its stake in Sanara MedTech by 1.1% during the 4th quarter. State Street Corp now owns 62,289 shares of the company’s stock worth $1,454,000 after buying an additional 690 shares during the period. Bank of America Corp DE lifted its holdings in Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after acquiring an additional 973 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after acquiring an additional 1,171 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.