Sanara MedTech Inc. (NASDAQ:SMTI) Short Interest Update

Sanara MedTech Inc. (NASDAQ:SMTI) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 216,090 shares, a decrease of 42.8% from the July 15th total of 377,539 shares. Currently, 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 401,044 shares, the short-interest ratio is presently 0.5 days.

Sanara MedTech Stock Down 0.1%

Sanara MedTech stock traded down $0.03 during trading on Monday, hitting $34.12. 74,000 shares of the company were exchanged, compared to its average volume of 104,750. The business’s 50 day moving average is $26.40 and its 200 day moving average is $22.15. Sanara MedTech has a 52 week low of $16.05 and a 52 week high of $35.95. The company has a market capitalization of $313.53 million, a P/E ratio of -9.50 and a beta of 1.12. The company has a current ratio of 2.58, a quick ratio of 2.30 and a debt-to-equity ratio of 5.86.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. The company had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. Analysts predict that Sanara MedTech will post 0.16 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of Sanara MedTech by 351.7% during the third 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 in the last quarter. Lazard Asset Management LLC boosted 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 purchasing an additional 3,155 shares during the last quarter. Bank of America Corp DE grew its position in Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after purchasing an additional 973 shares in the last quarter. Wells Fargo & Company MN grew its position in Sanara MedTech by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMTI shares. Wall Street Zen lowered shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research raised shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Lake Street Capital cut shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Thursday, July 30th. Weiss Ratings raised shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, HC Wainwright lowered shares of Sanara MedTech from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $35.00 in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $35.00.

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.