2,656 Shares in Sanara MedTech Inc. $SMTI Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC acquired a new position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,656 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in Sanara MedTech in the 1st quarter valued at approximately $326,000. Bank of New York Mellon Corp boosted its stake in shares of Sanara MedTech by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company’s stock valued at $428,000 after purchasing an additional 826 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after purchasing an additional 483 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sanara MedTech by 8,423.8% in the 1st quarter. GAMMA Investing LLC now owns 1,790 shares of the company’s stock valued at $58,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Sanara MedTech by 9.6% in the 4th quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock valued at $492,000 after purchasing an additional 1,294 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $33.76 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03. The stock has a market cap of $300.46 million, a price-to-earnings ratio of -29.10 and a beta of 1.19. The firm’s 50-day moving average is $29.40 and its 200 day moving average is $30.24. Sanara MedTech Inc. has a 1 year low of $23.53 and a 1 year high of $39.08.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.10. The business had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $25.15 million. Sanara MedTech had a negative net margin of 10.22% and a negative return on equity of 26.43%. Sell-side analysts anticipate that Sanara MedTech Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SMTI shares. Wall Street Zen raised shares of Sanara MedTech from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. HC Wainwright raised their price objective on shares of Sanara MedTech from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $50.00.

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.