Prelude Capital Management LLC Sells 2,324 Shares of Sanara MedTech Inc. (NASDAQ:SMTI)

Prelude Capital Management LLC lessened its holdings in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,525 shares of the company’s stock after selling 2,324 shares during the period. Prelude Capital Management LLC owned 0.08% of Sanara MedTech worth $269,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SMTI. Geode Capital Management LLC increased its position in Sanara MedTech by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 29,362 shares of the company’s stock valued at $1,211,000 after purchasing an additional 1,252 shares during the period. Susquehanna International Group LLP raised its stake in Sanara MedTech by 66.1% during the first quarter. Susquehanna International Group LLP now owns 25,295 shares of the company’s stock worth $1,043,000 after buying an additional 10,068 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Sanara MedTech by 28.1% during the first quarter. Ameriprise Financial Inc. now owns 17,732 shares of the company’s stock worth $731,000 after buying an additional 3,886 shares during the last quarter. Jane Street Group LLC acquired a new position in Sanara MedTech in the first quarter valued at $726,000. Finally, Citadel Advisors LLC boosted its position in Sanara MedTech by 35.4% during the third quarter. Citadel Advisors LLC now owns 14,832 shares of the company’s stock valued at $440,000 after acquiring an additional 3,878 shares during the last quarter. Institutional investors own 7.83% of the company’s stock.

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $34.00 on Tuesday. Sanara MedTech Inc. has a 52 week low of $25.78 and a 52 week high of $50.18. The stock has a 50 day moving average price of $39.72 and a two-hundred day moving average price of $40.37. The stock has a market capitalization of $289.68 million, a PE ratio of -32.38 and a beta of 1.82.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $15.75 million for the quarter. Sanara MedTech had a negative net margin of 14.39% and a negative return on equity of 21.41%. Research analysts forecast that Sanara MedTech Inc. will post -0.31 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SMTI shares. TheStreet raised Sanara MedTech from a “d” rating to a “c-” rating in a research note on Friday, June 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $59.00 price target on shares of Sanara MedTech in a research note on Thursday, August 17th.

Sanara MedTech Profile

Sanara MedTech Inc develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. It also offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution.