Sanara MedTech (NASDAQ:SMTI) Shares Down 0.2%

Sanara MedTech Inc. (NASDAQ:SMTI)’s stock price was down 0.2% on Wednesday . The stock traded as low as $31.53 and last traded at $31.60. Approximately 9,594 shares were traded during trading, a decline of 28% from the average daily volume of 13,296 shares. The stock had previously closed at $31.65.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reduced their target price on shares of Sanara MedTech from $49.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th.

Sanara MedTech Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 1.38. The firm has a market cap of $291.27 million, a price-to-earnings ratio of -65.40 and a beta of 1.57. The company’s fifty day moving average is $36.43 and its two-hundred day moving average is $34.72.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.03) earnings per share (EPS) for the quarter. Sanara MedTech had a negative return on equity of 11.12% and a negative net margin of 6.62%. The firm had revenue of $17.69 million for the quarter. Equities research analysts forecast that Sanara MedTech Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Sanara MedTech by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 140,046 shares of the company’s stock worth $5,756,000 after purchasing an additional 4,403 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Sanara MedTech during the 4th quarter valued at about $226,000. Barclays PLC grew its position in shares of Sanara MedTech by 681.3% during the 4th quarter. Barclays PLC now owns 5,336 shares of the company’s stock valued at $220,000 after buying an additional 4,653 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Sanara MedTech during the 4th quarter valued at about $209,000. Finally, Citadel Advisors LLC grew its position in shares of Sanara MedTech by 9.8% during the 4th quarter. Citadel Advisors LLC now owns 10,612 shares of the company’s stock valued at $436,000 after buying an additional 943 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

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.