Nuveen LLC Purchases New Shares in Sanara MedTech Inc. $SMTI

Nuveen LLC purchased a new stake in Sanara MedTech Inc. (NASDAQ:SMTI) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,565 shares of the company’s stock, valued at approximately $326,000. Nuveen LLC owned 0.12% of Sanara MedTech as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Sanara MedTech by 8,423.8% during the 1st quarter. GAMMA Investing LLC now owns 1,790 shares of the company’s stock worth $58,000 after purchasing an additional 1,769 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Sanara MedTech by 53.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after purchasing an additional 663 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Sanara MedTech during the 4th quarter worth $106,000. Rhumbline Advisers boosted its stake in Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Sanara MedTech by 75.4% during the 4th quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock worth $118,000 after purchasing an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Sanara MedTech from a “hold” rating to a “buy” rating in a research note on Friday. HC Wainwright lifted their target price on shares of Sanara MedTech from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Sanara MedTech Stock Down 1.4%

NASDAQ SMTI opened at $33.57 on Friday. Sanara MedTech Inc. has a 52 week low of $23.53 and a 52 week high of $39.08. The company has a quick ratio of 2.03, a current ratio of 2.26 and a debt-to-equity ratio of 1.25. The business’s fifty day simple moving average is $29.06 and its 200-day simple moving average is $30.24. The firm has a market cap of $298.77 million, a PE ratio of -28.94 and a beta of 1.19.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.10. The business had revenue of $25.83 million for the quarter, compared to analyst estimates of $25.15 million. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%. As a group, equities analysts anticipate 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.