Barclays PLC Purchases 4,376 Shares of Sanara MedTech Inc. (NASDAQ:SMTI)

Barclays PLC boosted its position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 323.0% in the third quarter, Holdings Channel reports. The firm owned 5,731 shares of the company’s stock after purchasing an additional 4,376 shares during the period. Barclays PLC’s holdings in Sanara MedTech were worth $174,000 at the end of the most recent quarter.

Separately, State Street Corp raised its stake in Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after buying an additional 4,932 shares during the period. Institutional investors own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright initiated coverage on Sanara MedTech in a research note on Monday, December 23rd. They issued a “buy” rating and a $50.00 target price for the company.

Sanara MedTech Stock Performance

Shares of SMTI stock opened at $32.42 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. Sanara MedTech Inc. has a 52 week low of $26.00 and a 52 week high of $41.90. The company’s 50 day moving average price is $34.91 and its two-hundred day moving average price is $32.46. The company has a market capitalization of $283.38 million, a P/E ratio of -32.75 and a beta of 1.55.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $21.67 million for the quarter. During the same period in the prior year, the firm earned ($0.13) EPS. On average, analysts expect that Sanara MedTech Inc. will post -1.42 earnings per share 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.