JPMorgan Chase & Co. Has $451,000 Stock Position in Sanara MedTech Inc. (NASDAQ:SMTI)

JPMorgan Chase & Co. grew its holdings in shares of Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) by 234.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,574 shares of the company's stock after purchasing an additional 9,516 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Sanara MedTech worth $451,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company's stock valued at $174,000 after purchasing an additional 4,376 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $433,000 after buying an additional 2,528 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Sanara MedTech in the fourth quarter worth approximately $898,000. State Street Corp lifted its position in shares of Sanara MedTech by 9.2% during the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Sanara MedTech by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company's stock worth $2,670,000 after purchasing an additional 3,755 shares during the period. Hedge funds and other institutional investors own 8.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HC Wainwright increased 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $46.00 price objective on shares of Sanara MedTech in a research report on Wednesday, March 26th.

Sanara MedTech Price Performance

Shares of SMTI stock traded down $0.53 during trading on Monday, hitting $32.36. The company had a trading volume of 13,331 shares, compared to its average volume of 25,524. The stock's 50-day moving average is $31.20 and its two-hundred day moving average is $33.48. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. Sanara MedTech Inc. has a 52 week low of $25.86 and a 52 week high of $39.08. The stock has a market capitalization of $287.62 million, a price-to-earnings ratio of -32.69 and a beta of 1.38.

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

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.