Brokers Issue Forecasts for Sanara MedTech FY2024 Earnings

Sanara MedTech Inc. (NASDAQ:SMTI) – Equities researchers at HC Wainwright issued their FY2024 earnings estimates for Sanara MedTech in a research note issued on Monday, December 23rd. HC Wainwright analyst Y. Chen expects that the company will post earnings per share of ($1.24) for the year. HC Wainwright currently has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.42) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.96) EPS.

Sanara MedTech (NASDAQ:SMTI) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating 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 business had revenue of $21.67 million for the quarter. During the same period in the prior year, the firm posted ($0.13) EPS.

Sanara MedTech Stock Down 2.1 %

Sanara MedTech stock opened at $34.20 on Wednesday. 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 company’s 50-day moving average is $34.82 and its 200-day moving average is $32.25. The firm has a market capitalization of $298.94 million, a PE ratio of -34.55 and a beta of 1.57. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $43.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTI. JPMorgan Chase & Co. grew its position in 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 buying an additional 2,272 shares in the last quarter. Barclays PLC grew its holdings in shares of Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after purchasing an additional 4,376 shares in the last quarter. State Street Corp raised its stake in Sanara MedTech by 9.2% in the third 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after purchasing an additional 3,755 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

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.