Bank of America Corp DE Purchases 1,055 Shares of Sanara MedTech Inc. (NASDAQ:SMTI)

Bank of America Corp DE lifted its position in Sanara MedTech Inc. (NASDAQ:SMTI) by 38.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,778 shares of the company’s stock after buying an additional 1,055 shares during the period. Bank of America Corp DE’s holdings in Sanara MedTech were worth $125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SMTI. Northern Trust Corp lifted its position in Sanara MedTech by 0.9% during the fourth quarter. Northern Trust Corp now owns 40,816 shares of the company’s stock valued at $1,355,000 after purchasing an additional 358 shares during the period. Renaissance Technologies LLC lifted its position in Sanara MedTech by 152.9% during 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. Marshall Wace LLP bought a new position in Sanara MedTech during the fourth quarter valued at approximately $1,005,000. Dimensional Fund Advisors LP lifted its position in Sanara MedTech by 116.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,925 shares of the company’s stock valued at $529,000 after purchasing an additional 8,567 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Sanara MedTech by 234.5% during the fourth quarter. JPMorgan Chase & Co. now owns 13,574 shares of the company’s stock valued at $451,000 after purchasing an additional 9,516 shares during the period. Institutional investors own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 price objective on shares of Sanara MedTech in a research report on Wednesday, March 26th. HC Wainwright increased their price objective on shares of Sanara MedTech from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, May 15th.

Sanara MedTech Stock Down 0.5%

Shares of SMTI stock opened at $28.67 on Tuesday. Sanara MedTech Inc. has a 12 month low of $25.86 and a 12 month high of $39.08. The stock has a market cap of $254.82 million, a P/E ratio of -28.96 and a beta of 1.35. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The company has a 50 day simple moving average of $30.46 and a two-hundred day simple moving average of $32.55.

Sanara MedTech (NASDAQ:SMTI) last announced its earnings results on Wednesday, May 14th. The company reported ($0.41) EPS 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 for the quarter, compared to analysts’ expectations of $23.48 million. On average, research analysts expect that Sanara MedTech Inc. will post -1.1 earnings per share for the current year.

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.