Sanara MedTech (NASDAQ:SMTI) Shares Down 0.2%

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

Wall Street Analyst Weigh In

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

Sanara MedTech Stock Down 0.2 %

The business’s fifty day moving average is $36.55 and its two-hundred day moving average is $34.73. The company has a market cap of $272.39 million, a P/E ratio of -60.77 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 1.38.

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

Institutional Investors Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTI. Tower Research Capital LLC TRC increased its position in Sanara MedTech by 363.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 797 shares of the company’s stock valued at $25,000 after purchasing an additional 625 shares during the period. UBS Group AG increased its position in Sanara MedTech by 138.8% during the 1st quarter. UBS Group AG now owns 609 shares of the company’s stock valued at $25,000 after purchasing an additional 354 shares during the period. Barclays PLC purchased a new position in Sanara MedTech during the 2nd quarter valued at about $30,000. Gladius Capital Management LP purchased a new position in Sanara MedTech during the 4th quarter valued at about $45,000. Finally, California State Teachers Retirement System purchased a new position in Sanara MedTech during the 2nd quarter valued at about $51,000. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.