Sanara MedTech Inc. (NASDAQ:SMTI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 234.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,574 shares of the company’s stock after purchasing an additional 9,516 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Sanara MedTech worth $451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after buying an additional 4,376 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Sanara MedTech by 24.0% in the fourth quarter. Bank of New York Mellon Corp now owns 13,054 shares of the company’s stock valued at $433,000 after purchasing an additional 2,528 shares during the last quarter. Fifth Third Bancorp purchased a new position in Sanara MedTech in the fourth quarter valued at about $898,000. State Street Corp grew its stake in Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after purchasing an additional 4,932 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Sanara MedTech by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after purchasing an additional 3,755 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SMTI shares. HC Wainwright increased 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 set a $46.00 price objective on shares of Sanara MedTech in a research note on Wednesday, March 26th.

Sanara MedTech Stock Up 0.9 %

Shares of Sanara MedTech stock opened at $32.24 on Friday. The business has a 50-day moving average price of $31.23 and a 200 day moving average price of $33.44. Sanara MedTech Inc. has a fifty-two week low of $25.86 and a fifty-two week high of $39.08. The firm has a market cap of $286.55 million, a P/E ratio of -32.57 and a beta of 1.47. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. The business had revenue of $26.31 million during the quarter, compared to the consensus estimate of $22.75 million. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. On average, sell-side analysts forecast that Sanara MedTech Inc. will post -1.1 earnings per share for the current fiscal year.

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.