Sanara MedTech (NASDAQ:SMTI) Trading Down 5.8%

Sanara MedTech Inc. (NASDAQ:SMTIGet Rating) dropped 5.8% during mid-day trading on Monday . The stock traded as low as $45.15 and last traded at $45.15. Approximately 10,701 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 10,357 shares. The stock had previously closed at $47.95.

Sanara MedTech Price Performance

The company’s fifty day simple moving average is $40.28 and its 200-day simple moving average is $33.00. The firm has a market capitalization of $374.93 million, a PE ratio of -30.30 and a beta of 1.93.

Sanara MedTech (NASDAQ:SMTIGet Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. Sanara MedTech had a negative return on equity of 32.84% and a negative net margin of 30.33%. The firm had revenue of $13.05 million during the quarter. As a group, equities research analysts anticipate that Sanara MedTech Inc. will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently made changes to their positions in SMTI. Citadel Advisors LLC acquired a new stake in shares of Sanara MedTech during the second quarter worth $229,000. State Street Corp acquired a new stake in shares of Sanara MedTech during the third quarter worth $238,000. Quadrature Capital Ltd acquired a new stake in shares of Sanara MedTech during the third quarter worth $204,000. First Manhattan Co. acquired a new position in Sanara MedTech during the third quarter valued at $47,000. Finally, Lazard Asset Management LLC lifted its position in Sanara MedTech by 54.3% during the second quarter. Lazard Asset Management LLC now owns 1,764 shares of the company’s stock valued at $36,000 after purchasing an additional 621 shares during the period. 4.03% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

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Sanara MedTech, Incengages in the development, marketing, and distribution of biotechnology products to physicians, hospitals, and clinics. It offers CellerateRX Surgical Activated Collagen Adjuvant and HemaQuell Resorbable Bone Hemostat. The company was founded in 1982 and is headquartered in Fort Worth, TX.

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