Sanara MedTech (NASDAQ:SMTI) Trading 4.8% Higher

Sanara MedTech Inc. (NASDAQ:SMTI) traded up 4.8% during mid-day trading on Monday . The stock traded as high as $35.25 and last traded at $35.01. 27,497 shares traded hands during trading, an increase of 58% from the average session volume of 17,373 shares. The stock had previously closed at $33.40.

Wall Street Analysts Forecast Growth

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

Sanara MedTech Stock Performance

The firm’s 50-day simple moving average is $31.34 and its two-hundred day simple moving average is $32.30. The company has a current ratio of 1.80, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $293.21 million, a PE ratio of -56.80 and a beta of 1.60.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.41) earnings per share for the quarter. The business had revenue of $20.16 million for the quarter. Sanara MedTech had a negative net margin of 9.07% and a negative return on equity of 15.17%. On average, equities research analysts expect that Sanara MedTech Inc. will post -2.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

A number of large investors have recently made changes to their positions in SMTI. Price T Rowe Associates Inc. MD increased its stake in Sanara MedTech by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,805 shares of the company’s stock valued at $215,000 after buying an additional 322 shares during the period. Vanguard Group Inc. grew its stake in Sanara MedTech by 3.1% in the first quarter. Vanguard Group Inc. now owns 144,394 shares of the company’s stock valued at $5,343,000 after purchasing an additional 4,348 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Sanara MedTech by 41.7% in the 4th 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. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Sanara MedTech

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.