Sanara MedTech (NASDAQ:SMTI) Trading Up 1% – Still a Buy?

Sanara MedTech Inc. (NASDAQ:SMTI)’s share price rose 1% during mid-day trading on Friday . The company traded as high as $35.00 and last traded at $34.69. Approximately 28,086 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 22,751 shares. The stock had previously closed at $34.35.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SMTI shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Sanara MedTech in a research report on Thursday, January 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $44.00 target price on shares of Sanara MedTech in a report on Wednesday, January 22nd.

Sanara MedTech Trading Up 1.0 %

The stock has a market capitalization of $303.23 million, a P/E ratio of -35.04 and a beta of 1.57. 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 business has a 50-day moving average price of $34.59 and a two-hundred day moving average price of $33.96.

Institutional Investors Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently bought and sold shares of SMTI. Wells Fargo & Company MN raised its position in shares of Sanara MedTech by 53.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after buying an additional 663 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Sanara MedTech in the fourth quarter valued at approximately $106,000. Deutsche Bank AG increased its stake in Sanara MedTech by 75.4% in the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after acquiring an additional 1,525 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Sanara MedTech by 38.7% during the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after purchasing an additional 1,055 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.