Marshall Wace LLP Takes Position in Sanara MedTech Inc. (NASDAQ:SMTI)

Marshall Wace LLP bought a new stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,285 shares of the company's stock, valued at approximately $1,005,000. Marshall Wace LLP owned approximately 0.35% of Sanara MedTech at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Sanara MedTech by 12.1% during the fourth quarter. Barclays PLC now owns 6,423 shares of the company's stock valued at $213,000 after purchasing an additional 692 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Sanara MedTech by 152.9% during the 4th quarter. Renaissance Technologies LLC now owns 35,400 shares of the company's stock worth $1,175,000 after buying an additional 21,400 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Sanara MedTech by 53.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company's stock valued at $63,000 after acquiring an additional 663 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Sanara MedTech by 234.5% during the fourth quarter. JPMorgan Chase & Co. now owns 13,574 shares of the company's stock valued at $451,000 after acquiring an additional 9,516 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Sanara MedTech by 24.0% during the fourth quarter. Bank of New York Mellon Corp now owns 13,054 shares of the company's stock worth $433,000 after purchasing an additional 2,528 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SMTI. Cantor Fitzgerald restated an "overweight" rating and issued a $46.00 price objective on shares of Sanara MedTech in a report on Wednesday, March 26th. HC Wainwright upped their price target on shares of Sanara MedTech from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, March 26th.

Sanara MedTech Price Performance

Sanara MedTech stock traded down $0.51 during mid-day trading on Tuesday, hitting $31.85. The company's stock had a trading volume of 18,377 shares, compared to its average volume of 25,570. The stock has a market capitalization of $283.08 million, a P/E ratio of -32.17 and a beta of 1.38. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The stock's fifty day moving average price is $31.08 and its two-hundred day moving average price is $33.46. Sanara MedTech Inc. has a twelve month low of $25.86 and a twelve month high of $39.08.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.01. The business had revenue of $26.31 million during the quarter, compared to analyst estimates of $22.75 million. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. Research analysts forecast that Sanara MedTech Inc. will post -1.1 earnings per share for the current 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.