Goldman Sachs Group Inc. Trims Stock Holdings in Sanara MedTech Inc. $SMTI

Goldman Sachs Group Inc. decreased its holdings in Sanara MedTech Inc. (NASDAQ:SMTI) by 46.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,581 shares of the company’s stock after selling 5,751 shares during the period. Goldman Sachs Group Inc. owned 0.07% of Sanara MedTech worth $203,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Squarepoint Ops LLC boosted its position in shares of Sanara MedTech by 9.6% in the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock valued at $492,000 after acquiring an additional 1,294 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Sanara MedTech by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company’s stock valued at $428,000 after acquiring an additional 826 shares during the period. Nuveen LLC bought a new position in shares of Sanara MedTech in the first quarter valued at approximately $326,000. Bank of America Corp DE boosted its position in shares of Sanara MedTech by 38.7% in the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $125,000 after acquiring an additional 1,055 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Sanara MedTech by 14.9% in the first quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after acquiring an additional 483 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Sanara MedTech from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. HC Wainwright raised their price objective on shares of Sanara MedTech from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $50.00.

Sanara MedTech Trading Up 2.0%

Shares of Sanara MedTech stock opened at $31.85 on Monday. Sanara MedTech Inc. has a 1 year low of $23.53 and a 1 year high of $39.08. The firm has a market cap of $283.47 million, a PE ratio of -27.46 and a beta of 1.19. 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 company has a 50 day simple moving average of $30.53 and a two-hundred day simple moving average of $30.24.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.10. The firm had revenue of $25.83 million during the quarter, compared to analyst estimates of $25.15 million. Sanara MedTech had a negative net margin of 10.22% and a negative return on equity of 26.43%. Analysts expect that Sanara MedTech Inc. will post -1.1 earnings per share for the current fiscal year.

Sanara MedTech 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.