Sanara MedTech Inc. (SMTI) shares ended the last trading session 8.1% higher at $29.20. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.5% loss over the past four weeks.
The upside can be attributed to relief-rally across global markets following the announcement of a 90-day pause on tariff hike by the United States.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -47.6%. Revenues are expected to be $22.25 million, up 20% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sanara MedTech, the consensus EPS estimate for the quarter has been revised 16% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SMTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sanara MedTech belongs to the Zacks Medical - Products industry. Another stock from the same industry, Perrigo (PRGO), closed the last trading session 5.4% higher at $25.87. Over the past month, PRGO has returned -11.9%.
Perrigo's consensus EPS estimate for the upcoming report has changed -9.2% over the past month to $0.53. Compared to the company's year-ago EPS, this represents a change of +82.8%. Perrigo currently boasts a Zacks Rank of #4 (Sell).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sanara MedTech Inc. (SMTI) : Free Stock Analysis Report
Perrigo Company plc (PRGO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.