FY2024 EPS Estimates for Sanara MedTech Boosted by Analyst

Sanara MedTech Inc. (NASDAQ:SMTI) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for shares of Sanara MedTech in a research note issued on Thursday, January 23rd. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings of ($1.05) per share for the year, up from their previous estimate of ($1.42). Cantor Fitzgerald has a “Overweight” rating and a $44.00 price objective on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.33) per share. Cantor Fitzgerald also issued estimates for Sanara MedTech’s FY2025 earnings at ($0.98) EPS.

Separately, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Sanara MedTech in a research report on Thursday, January 23rd.

Sanara MedTech Stock Up 2.6 %

Shares of NASDAQ:SMTI opened at $37.63 on Monday. Sanara MedTech has a 1 year low of $26.00 and a 1 year high of $40.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The business’s 50-day moving average is $34.77 and its 200-day moving average is $33.07. The company has a market capitalization of $328.89 million, a price-to-earnings ratio of -38.01 and a beta of 1.55.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share 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 last year, the company earned ($0.13) earnings per share.

Institutional Investors Weigh In On Sanara MedTech

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

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.