148,956 Shares of Sanara MedTech Inc. $SMTI Purchased by Transmarket Holdings LP

Key Points

• Transmarket Holdings LP purchased 148,956 shares of Sanara MedTech, valued at approximately $5.2 million, making SMTI its eighth-largest holding and representing 2.9% of its portfolio.
• Analyst sentiment has weakened, with multiple firms downgrading the stock; the consensus rating is “Reduce” with a $35 price target.
• Sanara MedTech reported a quarterly loss of $0.05 per share, missing estimates by $0.03, while revenue of $28.14 million also fell short of expectations.

Transmarket Holdings LP purchased a new position in shares of Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 148,956 shares of the company's stock, valued at approximately $5,234,000. Sanara MedTech comprises approximately 2.9% of Transmarket Holdings LP's portfolio, making the stock its 8th biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in shares of Sanara MedTech by 12.1% during the first quarter. Hsbc Holdings PLC now owns 17,283 shares of the company's stock valued at $301,000 after purchasing an additional 1,869 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Sanara MedTech in the 2nd quarter worth $98,000. Rockefeller Capital Management L.P. bought a new position in shares of Sanara MedTech in the 4th quarter worth approximately $299,000. Royal Bank of Canada raised its position in Sanara MedTech by 11.7% in the first quarter. Royal Bank of Canada now owns 131,389 shares of the company's stock worth $2,257,000 after acquiring an additional 13,746 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Sanara MedTech in the second quarter worth about $376,000. Hedge funds and other institutional investors own 8.10% of the company's stock.

Analysts Set New Price Targets

SMTI has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Sanara MedTech from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Freedom Capital cut Sanara MedTech from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. HC Wainwright downgraded Sanara MedTech from a "buy" rating to a "neutral" rating and lowered their target price for the company from $36.00 to $35.00 in a research report on Thursday, July 30th. Weiss Ratings raised shares of Sanara MedTech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Lake Street Capital cut shares of Sanara MedTech from a "buy" rating to a "hold" rating and set a $35.00 price target on the stock. in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $35.00.

Sanara MedTech Price Performance

NASDAQ:SMTI opened at $32.88 on Thursday. The firm has a market capitalization of $302.17 million, a price-to-earnings ratio of -9.16 and a beta of 1.19. The company has a debt-to-equity ratio of 5.86, a current ratio of 2.58 and a quick ratio of 2.30. The business has a 50 day simple moving average of $34.56 and a 200-day simple moving average of $25.44. Sanara MedTech Inc. has a 1 year low of $16.05 and a 1 year high of $35.52.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $28.14 million for the quarter, compared to analysts' expectations of $28.95 million. Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. Equities analysts forecast that Sanara MedTech Inc. will post 0.16 EPS for the current year.

Sanara MedTech Company Profile

Sanara MedTech Inc is a medical technology company focused on developing, commercializing and distributing products used in wound care, surgical soft-tissue repair and tissue regeneration. The company serves healthcare providers treating acute, chronic and complex wounds, as well as patients requiring surgical tissue management.

Sanara's product portfolio includes advanced wound-care and tissue-repair technologies such as CellerateRX products, FORTIFY tissue-repair products and other regenerative medicine solutions.

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