Sanara MedTech (NASDAQ:SMTI) Given New $49.00 Price Target at Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI) had its price target cut by stock analysts at Cantor Fitzgerald from $59.00 to $49.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 43.70% from the stock’s current price.

Separately, TheStreet cut Sanara MedTech from a “c-” rating to a “d+” rating in a research note on Friday, October 20th.

Sanara MedTech Stock Up 19.4 %

Shares of NASDAQ:SMTI opened at $34.10 on Wednesday. Sanara MedTech has a fifty-two week low of $26.06 and a fifty-two week high of $50.18. The firm’s 50 day moving average price is $30.79 and its 200 day moving average price is $36.51. The stock has a market cap of $290.53 million, a price-to-earnings ratio of -34.10 and a beta of 1.74.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings data on Monday, August 14th. The company reported ($0.22) EPS for the quarter. The firm had revenue of $15.75 million during the quarter. Sanara MedTech had a negative net margin of 13.05% and a negative return on equity of 20.84%. On average, equities analysts anticipate that Sanara MedTech will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

Several hedge funds have recently made changes to their positions in SMTI. Lazard Asset Management LLC acquired a new stake in shares of Sanara MedTech in the third quarter valued at approximately $78,000. Tower Research Capital LLC TRC lifted its position in Sanara MedTech by 363.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 797 shares of the company’s stock worth $25,000 after acquiring an additional 625 shares during the period. Strs Ohio lifted its position in Sanara MedTech by 112.5% during the 3rd quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $52,000 after acquiring an additional 900 shares during the period. Barclays PLC purchased a new position in shares of Sanara MedTech in the 2nd quarter valued at approximately $30,000. Finally, California State Teachers Retirement System acquired a new position in shares of Sanara MedTech in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 7.83% of the company’s stock.

Sanara MedTech Company Profile

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 also 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.