** Shares of medical technology company Sanara MedTech

rise about 2.7% to $34.6

** H.C. Wainwright initiates coverage of SMTI with "buy" rating

** Brokerage says SMTI's successful market penetration and geographic expansion could continue to drive topline growth in the coming quarters

** Company's products and services improve clinical outcomes in the surgical and chronic wound care markets, which also reduce healthcare expenditure - brokerage

** "Commercialized surgical wound care products have been driving revenue growth since 2019" - H.C. Wainwright

** Brokerage sets PT at $50, about 48.4% upside on stock's last close

** Including session's moves, stock down ~16.1% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))