Sanara MedTech Inc. (NASDAQ:SMTI) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Sanara MedTech Inc. (NASDAQ:SMTI) have earned a consensus rating of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.00.

A number of research analysts recently commented on SMTI shares. Zacks Research upgraded Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Lake Street Capital downgraded shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, HC Wainwright lowered shares of Sanara MedTech from a “buy” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $35.00 in a research report on Thursday, July 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after purchasing an additional 1,171 shares during the period. Wells Fargo & Company MN lifted its position in shares of Sanara MedTech by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after buying an additional 1,457 shares during the period. Lazard Asset Management LLC lifted its position in shares of Sanara MedTech by 63,100.0% during the 2nd 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 period. Deutsche Bank AG boosted its stake in Sanara MedTech by 171.1% in the 4th quarter. Deutsche Bank AG now owns 3,985 shares of the company’s stock valued at $93,000 after buying an additional 2,515 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Sanara MedTech by 44.1% in the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after acquiring an additional 973 shares during the period. Institutional investors own 8.10% of the company’s stock.

Sanara MedTech Price Performance

Shares of SMTI stock opened at $34.09 on Friday. Sanara MedTech has a 12 month low of $16.05 and a 12 month high of $35.95. The company has a market capitalization of $312.26 million, a P/E ratio of -9.04 and a beta of 1.13. The stock has a 50 day moving average of $24.92 and a two-hundred day moving average of $21.64. The company has a current ratio of 2.28, a quick ratio of 2.05 and a debt-to-equity ratio of 6.59.

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.