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

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

Wall Street Analysts Forecast Growth

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

Sanara MedTech Price Performance

The stock’s 50 day moving average is $30.95 and its two-hundred day moving average is $35.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.35 and a quick ratio of 1.02. The stock has a market capitalization of $241.73 million, a PE ratio of -47.34 and a beta of 1.67.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter. Sanara MedTech had a negative net margin of 7.19% and a negative return on equity of 11.33%. The business had revenue of $18.54 million during the quarter. As a group, sell-side analysts forecast that Sanara MedTech Inc. will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position 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 buying an additional 4,348 shares during the period. Janney Montgomery Scott LLC lifted its position 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 buying an additional 4,520 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 buying an additional 322 shares during the period. Finally, Gladius Capital Management LP purchased a new position in Sanara MedTech during the fourth quarter worth about $45,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.