Janney Montgomery Scott LLC Has $874,000 Stock Position in Sanara MedTech Inc. (NASDAQ:SMTI)

Janney Montgomery Scott LLC reduced its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,315 shares of the company’s stock after selling 6,531 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sanara MedTech were worth $874,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Sanara MedTech by 127.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after purchasing an additional 2,272 shares during the period. Barclays PLC lifted its stake in shares of Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after buying an additional 4,376 shares during the period. State Street Corp grew its position in Sanara MedTech by 9.2% during the third 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after acquiring an additional 3,755 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald reiterated 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 restated a “buy” rating and issued a $50.00 target price on shares of Sanara MedTech in a research note on Thursday, January 23rd.

Sanara MedTech Price Performance

Shares of Sanara MedTech stock opened at $35.40 on Friday. The firm has a market cap of $309.40 million, a P/E ratio of -35.76 and a beta of 1.57. The firm’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $33.36. Sanara MedTech Inc. has a twelve month low of $26.00 and a twelve month high of $40.75. 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 (NASDAQ:SMTI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The business had revenue of $21.67 million during the quarter. During the same period in the previous year, the company posted ($0.13) earnings per share. As a group, research analysts expect that Sanara MedTech Inc. will post -1.1 EPS for the current fiscal year.

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.