Price T Rowe Associates Inc. MD Invests $208,000 in Sanara MedTech Inc. (NASDAQ:SMTI)

Price T Rowe Associates Inc. MD purchased a new position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,237 shares of the company’s stock, valued at approximately $208,000. Price T Rowe Associates Inc. MD owned 0.07% of Sanara MedTech as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Sanara MedTech by 116.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,925 shares of the company’s stock worth $529,000 after buying an additional 8,567 shares during the period. Marshall Wace LLP purchased a new position in Sanara MedTech in the fourth quarter valued at $1,005,000. Barclays PLC boosted its holdings in Sanara MedTech by 12.1% in the fourth quarter. Barclays PLC now owns 6,423 shares of the company’s stock valued at $213,000 after purchasing an additional 692 shares during the period. Renaissance Technologies LLC boosted its holdings in Sanara MedTech by 152.9% in the fourth quarter. Renaissance Technologies LLC now owns 35,400 shares of the company’s stock valued at $1,175,000 after purchasing an additional 21,400 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings 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 purchasing an additional 663 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Sanara MedTech Stock Up 2.0%

Sanara MedTech stock opened at $31.50 on Friday. Sanara MedTech Inc. has a 1-year low of $25.86 and a 1-year high of $39.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The stock has a market cap of $279.97 million, a PE ratio of -31.82 and a beta of 1.38. The stock’s fifty day moving average is $31.06 and its two-hundred day moving average is $33.45.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $23.43 million during the quarter, compared to analyst estimates of $23.48 million. On average, sell-side analysts expect that Sanara MedTech Inc. will post -1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SMTI shares. HC Wainwright lifted their target price on Sanara MedTech from $51.00 to $53.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 target price on shares of Sanara MedTech in a report on Wednesday, March 26th.

Sanara MedTech Company Profile

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.