FY2024 Earnings Forecast for Sanara MedTech Inc. Issued By Cantor Fitzgerald (NASDAQ:SMTI)

Sanara MedTech Inc. (NASDAQ:SMTI) – Equities research analysts at Cantor Fitzgerald decreased their FY2024 EPS estimates for Sanara MedTech in a research note issued on Wednesday, August 14th. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings of ($2.03) per share for the year, down from their previous forecast of ($0.79). 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 ($2.03) per share.

Sanara MedTech Price Performance

Shares of NASDAQ:SMTI opened at $32.25 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.49. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $43.25. The company has a market capitalization of $282.19 million, a P/E ratio of -54.66 and a beta of 1.59. The firm’s 50 day simple moving average is $29.57 and its two-hundred day simple moving average is $32.66.

Hedge Funds Weigh In On Sanara MedTech

Several large investors have recently added to or reduced their stakes in SMTI. Gladius Capital Management LP purchased a new position in Sanara MedTech during the fourth quarter valued at approximately $45,000. Price T Rowe Associates Inc. MD lifted its holdings in Sanara MedTech by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,805 shares of the company’s stock valued at $215,000 after purchasing an additional 322 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Sanara MedTech by 41.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,369 shares of the company’s stock valued at $632,000 after purchasing an additional 4,520 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Sanara MedTech by 3.1% during the first quarter. Vanguard Group Inc. now owns 144,394 shares of the company’s stock valued at $5,343,000 after purchasing an additional 4,348 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.