Sanara MedTech FY2024 EPS Forecast Raised by HC Wainwright

Sanara MedTech Inc. (NASDAQ:SMTI) – HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Sanara MedTech in a research report issued to clients and investors on Thursday, January 23rd. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings of ($1.15) per share for the year, up from their previous forecast of ($1.24). HC Wainwright currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.19) EPS.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.28. The company had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same quarter in the prior year, the firm earned ($0.13) earnings per share.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $44.00 price objective on shares of Sanara MedTech in a research report on Wednesday, January 22nd.

Sanara MedTech Trading Up 2.6 %

NASDAQ:SMTI opened at $37.63 on Monday. The firm has a market capitalization of $328.89 million, a PE ratio of -38.01 and a beta of 1.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. Sanara MedTech has a 12 month low of $26.00 and a 12 month high of $40.75. The business’s 50-day moving average is $34.77 and its two-hundred day moving average is $33.07.

Institutional Trading of Sanara MedTech

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Sanara MedTech by 4.4% in the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after purchasing an additional 3,755 shares during the last quarter. State Street Corp raised its position in shares of Sanara MedTech by 9.2% in the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after purchasing an additional 4,932 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Sanara MedTech during the 4th quarter valued at approximately $898,000. Barclays PLC grew its position in shares of Sanara MedTech by 323.0% during the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after buying an additional 4,376 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after buying an additional 2,272 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.