Sanara MedTech (NASDAQ:SMTI) Stock Price Down 2.6% – Here’s What Happened

Sanara MedTech Inc. (NASDAQ:SMTI) fell 2.6% on Monday . The stock traded as low as $28.17 and last traded at $28.66. 9,860 shares were traded during mid-day trading, a decline of 61% from the average session volume of 25,365 shares. The stock had previously closed at $29.43.

Analyst Ratings Changes

A number of research analysts recently commented on SMTI shares. HC Wainwright upped their target price on Sanara MedTech from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price target on shares of Sanara MedTech in a research report on Wednesday, March 26th.

Sanara MedTech Stock Down 2.6 %

The company has a market cap of $255.13 million, a P/E ratio of -28.95 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The stock has a 50-day moving average of $31.80 and a 200 day moving average of $33.46.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $26.31 million during the quarter, compared to analysts’ expectations of $22.75 million. Research analysts anticipate that Sanara MedTech Inc. will post -1.1 earnings per share for the current year.

Institutional Trading of Sanara MedTech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTI. GAMMA Investing LLC lifted its stake in Sanara MedTech by 8,423.8% in the first quarter. GAMMA Investing LLC now owns 1,790 shares of the company’s stock valued at $58,000 after purchasing an additional 1,769 shares during the last quarter. Wells Fargo & Company MN grew its position in Sanara MedTech by 53.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after acquiring an additional 663 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Sanara MedTech during the 4th quarter valued at about $106,000. Rhumbline Advisers lifted its holdings in shares of Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after acquiring an additional 483 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Sanara MedTech by 75.4% in the 4th quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after acquiring an additional 1,525 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Sanara MedTech Company Profile

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.