Janney Montgomery Scott LLC Has $711,000 Position in Sanara MedTech Inc. $SMTI

Janney Montgomery Scott LLC lowered its position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,030 shares of the company’s stock after selling 1,285 shares during the quarter. Janney Montgomery Scott LLC owned 0.28% of Sanara MedTech worth $711,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Sanara MedTech in the first quarter valued at approximately $326,000. MetLife Investment Management LLC acquired a new position in shares of Sanara MedTech in the first quarter valued at approximately $82,000. GAMMA Investing LLC boosted its holdings in shares of Sanara MedTech by 8,423.8% in the first quarter. GAMMA Investing LLC now owns 1,790 shares of the company’s stock valued at $58,000 after buying an additional 1,769 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 826 shares during the period. Finally, Rhumbline Advisers lifted 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 worth $115,000 after purchasing an additional 483 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMTI. Weiss Ratings reissued a “sell (e+)” rating on shares of Sanara MedTech in a research report on Wednesday, October 8th. HC Wainwright boosted their price objective on shares of Sanara MedTech from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Wall Street Zen raised shares of Sanara MedTech from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.00.

Sanara MedTech Price Performance

NASDAQ:SMTI opened at $29.90 on Thursday. Sanara MedTech Inc. has a one year low of $23.53 and a one year high of $39.08. The company has a market cap of $266.11 million, a P/E ratio of -25.78 and a beta of 1.21. The firm’s fifty day moving average price is $31.99 and its two-hundred day moving average price is $30.12. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.26 and a quick ratio of 2.03.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) 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 the consensus estimate of $25.15 million. Sanara MedTech had a negative net margin of 10.22% and a negative return on equity of 26.43%. Equities analysts expect that Sanara MedTech Inc. will post -1.1 earnings per share for the current 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.