Sanara MedTech (NASDAQ:SMTI) Stock Price Up 3.6%

Sanara MedTech Inc. (NASDAQ:SMTI)’s stock price rose 3.6% during mid-day trading on Monday . The company traded as high as $29.49 and last traded at $28.97. Approximately 28,477 shares were traded during trading, an increase of 85% from the average daily volume of 15,361 shares. The stock had previously closed at $27.97.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $44.00 price target on shares of Sanara MedTech in a research note on Wednesday, May 15th.

Sanara MedTech Stock Up 3.6 %

The business has a 50 day moving average of $31.02 and a 200-day moving average of $35.07. The stock has a market cap of $250.01 million, a PE ratio of -49.10 and a beta of 1.67. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.21) earnings per share for the quarter. Sanara MedTech had a negative return on equity of 11.33% and a negative net margin of 7.19%. The company had revenue of $18.54 million for the quarter. Equities research analysts predict that Sanara MedTech Inc. will post -0.79 EPS for the current fiscal year.

Institutional Trading of Sanara MedTech

Several hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Sanara MedTech by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,805 shares of the company’s stock worth $215,000 after purchasing an additional 322 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sanara MedTech by 3.1% during the first quarter. Vanguard Group Inc. now owns 144,394 shares of the company’s stock worth $5,343,000 after purchasing an additional 4,348 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Sanara MedTech by 41.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,369 shares of the company’s stock worth $632,000 after purchasing an additional 4,520 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new position in Sanara MedTech during the fourth quarter worth $45,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.