Cantor Fitzgerald Comments on Sanara MedTech FY2024 Earnings

Sanara MedTech Inc. (NASDAQ:SMTIFree Report) – Research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for shares of Sanara MedTech in a research report issued on Thursday, January 23rd. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($1.05) per share for the year, up from their prior forecast of ($1.42). Cantor Fitzgerald currently 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 reissued a “buy” rating and issued a $50.00 target price on shares of Sanara MedTech in a research note on Thursday, January 23rd.

View Our Latest Report on SMTI

Sanara MedTech Stock Performance

Sanara MedTech stock opened at $36.69 on Monday. The company has a market cap of $320.67 million, a price-to-earnings ratio of -37.06 and a beta of 1.55. Sanara MedTech has a 12 month low of $26.00 and a 12 month 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 stock’s 50-day moving average is $34.75 and its 200-day moving average is $33.01.

Sanara MedTech (NASDAQ:SMTIGet Free Report) last issued its quarterly earnings results 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. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The firm had revenue of $21.67 million for the quarter. During the same period in the previous year, the business posted ($0.13) earnings per share.

Institutional Investors Weigh In On Sanara MedTech

Large investors have recently modified their holdings of the stock. State Street Corp lifted its position in Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after acquiring an additional 4,932 shares in the last quarter. Barclays PLC raised its stake in shares of Sanara MedTech by 323.0% during 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 during the period. Geode Capital Management LLC raised its stake in shares of Sanara MedTech by 4.4% during 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 period. JPMorgan Chase & Co. lifted its position in shares of Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Sanara MedTech in the fourth quarter valued at $898,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Sanara MedTech

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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.

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