Sanara MedTech Inc. (NASDAQ:SMTI) Stake Boosted by Barclays PLC

Barclays PLC increased its position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,423 shares of the company’s stock after purchasing an additional 692 shares during the quarter. Barclays PLC owned 0.07% of Sanara MedTech worth $213,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Sanara MedTech by 152.9% during the fourth quarter. Renaissance Technologies LLC now owns 35,400 shares of the company’s stock worth $1,175,000 after purchasing an additional 21,400 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Sanara MedTech by 53.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after buying an additional 663 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Sanara MedTech by 234.5% in the fourth quarter. JPMorgan Chase & Co. now owns 13,574 shares of the company’s stock valued at $451,000 after buying an additional 9,516 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 buying an additional 2,528 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Sanara MedTech in the fourth quarter valued at $898,000. 8.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMTI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 target price on shares of Sanara MedTech in a research note on Wednesday, March 26th. HC Wainwright raised 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.

Sanara MedTech Stock Performance

SMTI stock opened at $34.37 on Tuesday. The company has a market capitalization of $305.48 million, a P/E ratio of -34.72 and a beta of 1.38. The company has a 50-day simple moving average of $31.05 and a 200 day simple moving average of $33.47. Sanara MedTech Inc. has a fifty-two week low of $25.86 and a fifty-two week high of $39.08. 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 posted its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.71% and a negative return on equity of 19.86%. Sell-side analysts predict 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.