Overview
Sanara MedTech Q2 revenue rises 28% yr/yr, beating analyst expectations
Company reports Q2 net loss of $2 mln, narrowing from previous year
Sanara to evaluate strategic alternatives for Tissue Health Plus subsidiary
Outlook
Sanara projects cash investment in THP strategy between $5.5 mln and $6.5 mln
Company evaluating strategic alternatives for Tissue Health Plus subsidiary
Sanara aims to capitalize on growth opportunities in Sanara Surgical segment
Result Drivers
SOFT TISSUE REPAIR - Revenue growth driven by increased demand for CellerateRX Surgical and BIASURGE products
SANARA SURGICAL EXPANSION - Growth attributed to expanding distributor network and penetration into new healthcare facilities
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$25.80 mln
$25.10 mln (2 Analysts)
Q2 EPS
-$0.23
Q2 Net Income
-$2 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Sanara Medtech Inc is $49.00, about 43.9% above its August 12 closing price of $27.47
Press Release: ID:nGNX3mTwh4
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)