SMTI - Sanara MedTech assumed Overweight at Cantor citing recent earnings

Cantor Fitzgerald has assumed the coverage on the wound and skin care product supplier Sanara MedTech (NASDAQ:SMTI) with an Overweight rating on Friday, citing the company’s recently reported favorable financials for 1Q 2022. However, the analyst Ross Osborn lowers the price target to $40 from $45 per share with assumptions based on the company's 4Q 2021 and 1Q 2022 results, which indicated, among others, ~56% YoY growth and $3.0 million monthly revenue in March. In addition, the analyst notes that Sanara (SMTI) increased the number of facilities authorized to sell its healing product CellerateRX to 1,250 from 1,110 in 2021 year-end and expanded the sales force to 31 adding a territory sales manager. Osborn argues that CellerateRX is “uniquely differentiated with an attractive margin profile” in a wound care market valued at more than $28 billion.  With an underappreciated product pipeline and an attractively valued stock compared to high-growth MedTech rivals,

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Sanara MedTech assumed Overweight at Cantor citing recent earnings