Sanara MedTech Inc. (NASDAQ:SMTI) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 127.2% during the third quarter, Holdings Channel reports. The firm owned 4,058 shares of the company’s stock after purchasing an additional 2,272 shares during the period. JPMorgan Chase & Co.’s holdings in Sanara MedTech were worth $123,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Barclays PLC grew its stake in Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after buying an additional 4,376 shares during the last quarter. State Street Corp increased its holdings in shares of Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after purchasing an additional 4,932 shares during the period. Finally, Geode Capital Management LLC raised its position in Sanara MedTech by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after buying an additional 3,755 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sanara MedTech Stock Down 1.4 %

SMTI opened at $36.33 on Monday. The firm has a market cap of $317.52 million, a P/E ratio of -36.70 and a beta of 1.55. Sanara MedTech Inc. has a 52 week low of $26.00 and a 52 week high of $40.75. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $34.74 and its 200 day simple moving average is $33.24.

Sanara MedTech (NASDAQ:SMTI) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.28. The firm had revenue of $21.67 million during the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same quarter in the previous year, the company posted ($0.13) earnings per share. As a group, equities research analysts anticipate that Sanara MedTech Inc. will post -1.1 EPS for the current fiscal year.

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.