Sanara MedTech (NASDAQ:SMTI) Shares Down 2.6% - What's Next?

Sanara MedTech Inc. (NASDAQ:SMTI - Get Free Report)'s share price traded down 2.6% during trading on Monday . The stock traded as low as $28.17 and last traded at $28.66. 9,860 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 25,365 shares. The stock had previously closed at $29.43.

Wall Street Analyst Weigh In

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

Sanara MedTech Stock Down 0.8 %

The company has a market capitalization of $281.93 million, a P/E ratio of -32.04 and a beta of 1.47. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $31.47 and a 200 day moving average price of $33.44.

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

Hedge Funds Weigh In On Sanara MedTech

A number of hedge funds have recently made changes to their positions in SMTI. GAMMA Investing LLC boosted 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 acquiring an additional 1,769 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Sanara MedTech by 53.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company's stock worth $63,000 after acquiring an additional 663 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Sanara MedTech in the fourth quarter worth approximately $106,000. Rhumbline Advisers lifted its stake in Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company's stock valued at $115,000 after acquiring an additional 483 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Sanara MedTech by 75.4% during the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company's stock worth $118,000 after purchasing an additional 1,525 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.