Sanara MedTech (NASDAQ:SMTI) Stock Price Down 1.5% - Here's Why

Sanara MedTech Inc. (NASDAQ:SMTI - Get Free Report)'s stock price dropped 1.5% during trading on Thursday . The stock traded as low as $27.45 and last traded at $27.46. Approximately 15,980 shares traded hands during trading, a decline of 46% from the average daily volume of 29,789 shares. The stock had previously closed at $27.89.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SMTI shares. Cantor Fitzgerald restated an "overweight" rating and issued a $46.00 target price on shares of Sanara MedTech in a research note on Wednesday, March 26th. HC Wainwright increased their target price on shares of Sanara MedTech from $51.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Sanara MedTech Trading Down 1.5%

The firm has a market capitalization of $244.12 million, a price-to-earnings ratio of -20.49 and a beta of 1.30. The business's 50-day simple moving average is $29.54 and its two-hundred day simple moving average is $31.62. The company has a quick ratio of 2.54, a current ratio of 2.77 and a debt-to-equity ratio of 1.18.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.10). Sanara MedTech had a negative return on equity of 29.22% and a negative net margin of 12.48%. The company had revenue of $23.43 million for the quarter, compared to analysts' expectations of $23.48 million. Equities analysts forecast that Sanara MedTech Inc. will post -1.1 earnings per share for the current year.

Institutional Trading of Sanara MedTech

A number of hedge funds have recently bought and sold shares of SMTI. GAMMA Investing LLC lifted its position in Sanara MedTech by 8,423.8% during the first quarter. GAMMA Investing LLC now owns 1,790 shares of the company's stock valued at $58,000 after buying an additional 1,769 shares in the last quarter. Wells Fargo & Company MN increased its stake in Sanara MedTech by 53.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company's stock valued at $63,000 after purchasing an additional 663 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Sanara MedTech during the first quarter valued at $82,000. BNP Paribas Financial Markets acquired a new position in shares of Sanara MedTech during the fourth quarter valued at $106,000. Finally, Rhumbline Advisers boosted its holdings in shares of Sanara MedTech by 14.9% during the first quarter. Rhumbline Advisers now owns 3,714 shares of the company's stock valued at $115,000 after acquiring an additional 483 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

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.

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