Sanara MedTech (NASDAQ:SMTI) Trading Down 4.1%

Sanara MedTech Inc. (NASDAQ:SMTI) shares dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $28.43 and last traded at $29.00. Approximately 25,395 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 18,159 shares. The stock had previously closed at $30.24.

Sanara MedTech Price Performance

The company’s 50-day moving average is $31.95 and its 200-day moving average is $31.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.49. The firm has a market capitalization of $250.13 million, a price-to-earnings ratio of -49.15 and a beta of 1.60.

Sanara MedTech (NASDAQ:SMTI) last released its earnings results on Monday, August 12th. The company reported ($0.41) earnings per share (EPS) for the quarter. Sanara MedTech had a negative return on equity of 15.17% and a negative net margin of 9.07%. The company had revenue of $20.16 million during the quarter. On average, research analysts expect that Sanara MedTech Inc. will post -2.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMTI. Price T Rowe Associates Inc. MD lifted its position in Sanara MedTech by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,805 shares of the company’s stock valued at $215,000 after buying an additional 322 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Sanara MedTech by 41.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,369 shares of the company’s stock valued at $632,000 after buying an additional 4,520 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Sanara MedTech by 3.1% during the first quarter. Vanguard Group Inc. now owns 144,394 shares of the company’s stock valued at $5,343,000 after buying an additional 4,348 shares in the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.