FY2024 EPS Estimates for Sanara MedTech Increased by Analyst

Sanara MedTech Inc. (NASDAQ:SMTI) – Stock analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Sanara MedTech in a note issued to investors on Thursday, January 23rd. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($1.15) for the year, up from their previous forecast of ($1.24). HC Wainwright has a “Buy” rating and a $50.00 price objective 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.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $44.00 target price on shares of Sanara MedTech in a report on Wednesday, January 22nd.

Sanara MedTech Trading Up 2.6 %

Shares of Sanara MedTech stock opened at $37.63 on Monday. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $40.75. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $34.77 and a 200-day simple moving average of $33.07. The firm has a market cap of $328.89 million, a price-to-earnings ratio of -38.01 and a beta of 1.55.

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

Institutional Investors Weigh In On Sanara MedTech

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Sanara MedTech by 127.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after buying an additional 2,272 shares during the period. Barclays PLC grew its stake in 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 during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Sanara MedTech during the fourth quarter worth approximately $898,000. State Street Corp raised its position in 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 3,755 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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.