Cantor Fitzgerald Comments on Sanara MedTech Inc.’s FY2023 Earnings (NASDAQ:SMTI)

Sanara MedTech Inc. (NASDAQ:SMTIGet Rating) – Analysts at Cantor Fitzgerald issued their FY2023 EPS estimates for Sanara MedTech in a report issued on Monday, June 6th. Cantor Fitzgerald analyst R. Osborn forecasts that the company will post earnings per share of ($0.58) for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock.

Sanara MedTech (NASDAQ:SMTIGet Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.41) earnings per share for the quarter. The company had revenue of $7.81 million for the quarter. Sanara MedTech had a negative net margin of 36.63% and a negative return on equity of 31.14%.

Separately, Zacks Investment Research upgraded shares of Sanara MedTech from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd.

Shares of SMTI opened at $21.10 on Wednesday. The firm has a fifty day simple moving average of $24.45 and a two-hundred day simple moving average of $25.54. Sanara MedTech has a 1-year low of $17.41 and a 1-year high of $43.89.

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Sanara MedTech by 8.3% during the 1st quarter. State Street Corp now owns 8,013 shares of the company’s stock valued at $222,000 after acquiring an additional 613 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Sanara MedTech by 50.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company’s stock valued at $154,000 after acquiring an additional 1,500 shares during the period. Royal Bank of Canada bought a new stake in shares of Sanara MedTech during the 2nd quarter valued at $74,000. Morgan Stanley grew its position in shares of Sanara MedTech by 976.2% during the 3rd quarter. Morgan Stanley now owns 4,251 shares of the company’s stock valued at $146,000 after acquiring an additional 3,856 shares during the period. Finally, Susquehanna International Group LLP grew its position in shares of Sanara MedTech by 30.2% during the 4th quarter. Susquehanna International Group LLP now owns 16,800 shares of the company’s stock valued at $511,000 after acquiring an additional 3,900 shares during the period. 4.35% of the stock is owned by hedge funds and other institutional investors.

About Sanara MedTech (Get Rating)

Sanara MedTech Inc develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. It offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution.

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