Renaissance Technologies LLC Increases Stake in Sanara MedTech Inc. (NASDAQ:SMTI)

Renaissance Technologies LLC boosted its holdings in Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) by 152.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,400 shares of the company's stock after purchasing an additional 21,400 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of Sanara MedTech worth $1,175,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SMTI. Geode Capital Management LLC lifted its stake in Sanara MedTech by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company's stock valued at $2,670,000 after acquiring an additional 3,755 shares in the last quarter. State Street Corp grew its holdings in shares of Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company's stock valued at $1,775,000 after acquiring an additional 4,932 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Sanara MedTech during the fourth quarter valued at approximately $898,000. JPMorgan Chase & Co. increased its position 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 last quarter. Finally, Bank of New York Mellon Corp grew its stake in Sanara MedTech by 24.0% in the 4th quarter. Bank of New York Mellon Corp now owns 13,054 shares of the company's stock valued at $433,000 after purchasing an additional 2,528 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

Sanara MedTech Price Performance

Shares of Sanara MedTech stock traded down $0.18 on Monday, reaching $32.71. The stock had a trading volume of 2,785 shares, compared to its average volume of 25,482. The business's 50 day moving average is $31.20 and its two-hundred day moving average is $33.48. The company has a market cap of $290.73 million, a P/E ratio of -33.04 and a beta of 1.38. Sanara MedTech Inc. has a 1 year low of $25.86 and a 1 year high of $39.08. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.01. The company had revenue of $26.31 million for the quarter, compared to the consensus estimate of $22.75 million. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. As a group, research analysts anticipate that Sanara MedTech Inc. will post -1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $46.00 price target on shares of Sanara MedTech in a report on Wednesday, March 26th. HC Wainwright lifted their target price on shares of Sanara MedTech from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th.

Sanara MedTech 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.