Sanara MedTech (NASDAQ:SMTI) Trading Down 1.5% - Time to Sell?

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

Analysts Set New Price Targets

Several brokerages recently weighed in on SMTI. HC Wainwright upped their target price on shares of Sanara MedTech from $51.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $46.00 price objective on shares of Sanara MedTech in a report on Wednesday, March 26th.

Sanara MedTech Trading Down 0.1%

The company has a quick ratio of 2.54, a current ratio of 2.77 and a debt-to-equity ratio of 1.18. The stock's 50 day moving average price is $29.42 and its 200-day moving average price is $31.55. The stock has a market capitalization of $233.63 million, a P/E ratio of -19.61 and a beta of 1.30.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last announced its earnings results 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). The firm had revenue of $23.43 million during the quarter, compared to analyst estimates of $23.48 million. Sanara MedTech had a negative net margin of 12.48% and a negative return on equity of 29.22%. As a group, equities research analysts expect that Sanara MedTech Inc. will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in Sanara MedTech by 0.9% in the fourth quarter. Northern Trust Corp now owns 40,816 shares of the company's stock valued at $1,355,000 after buying an additional 358 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Sanara MedTech by 152.9% during the fourth quarter. Renaissance Technologies LLC now owns 35,400 shares of the company's stock worth $1,175,000 after purchasing an additional 21,400 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Sanara MedTech during the fourth quarter worth about $1,005,000. Citadel Advisors LLC increased its stake 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. Finally, Dimensional Fund Advisors LP increased its stake 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. Hedge funds and other institutional investors 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.