Nuveen LLC Acquires Shares of 10,565 Sanara MedTech Inc. $SMTI

Key Points

• Nuveen LLC acquired a new stake in Sanara MedTech Inc., purchasing 10,565 shares valued at approximately $326,000, increasing its ownership to 0.12% of the company.
• Analysts have upgraded Sanara MedTech's rating to "buy", with HC Wainwright raising the target price from $53.00 to $54.00 and a consensus target price of $50.00.
• Despite positive earnings results, Sanara MedTech's stock decreased by 1.4%, with a current price of $33.57 and a market cap of $298.77 million.

Nuveen LLC purchased a new stake in Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,565 shares of the company's stock, valued at approximately $326,000. Nuveen LLC owned approximately 0.12% of Sanara MedTech at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Sanara MedTech by 0.9% during the fourth quarter. Northern Trust Corp now owns 40,816 shares of the company's stock worth $1,355,000 after purchasing an additional 358 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Sanara MedTech by 7.3% during the fourth quarter. Citadel Advisors LLC now owns 21,984 shares of the company's stock worth $730,000 after purchasing an additional 1,491 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sanara MedTech by 116.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,925 shares of the company's stock worth $529,000 after purchasing an additional 8,567 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Sanara MedTech by 9.6% during the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company's stock worth $492,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Sanara MedTech by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 13,880 shares of the company's stock worth $428,000 after purchasing an additional 826 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMTI has been the topic of a number of research analyst reports. HC Wainwright lifted their target price on Sanara MedTech from $53.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Wall Street Zen upgraded Sanara MedTech from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $50.00.

Sanara MedTech Stock Performance

Shares of NASDAQ SMTI traded up $1.52 during midday trading on Thursday, reaching $35.28. 13,391 shares of the company were exchanged, compared to its average volume of 31,629. The company has a current ratio of 2.26, a quick ratio of 2.03 and a debt-to-equity ratio of 1.25. Sanara MedTech Inc. has a 1 year low of $23.53 and a 1 year high of $39.08. The stock has a fifty day simple moving average of $29.50 and a 200 day simple moving average of $30.24. The stock has a market cap of $313.99 million, a P/E ratio of -30.41 and a beta of 1.19.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.10. Sanara MedTech had a negative return on equity of 26.43% and a negative net margin of 10.22%.The firm had revenue of $25.83 million for the quarter, compared to analyst estimates of $25.15 million. On average, research analysts forecast that Sanara MedTech Inc. will post -1.1 earnings per share for the current fiscal year.

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.