Sanara MedTech Inc. (NASDAQ:SMTI) Stake Boosted by State Street Corp

State Street Corp lifted its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,688 shares of the company’s stock after purchasing an additional 4,932 shares during the quarter. State Street Corp owned about 0.67% of Sanara MedTech worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission.

Sanara MedTech Price Performance

Shares of SMTI opened at $33.20 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The company has a market capitalization of $290.20 million, a price-to-earnings ratio of -33.54 and a beta of 1.57. The business’s 50-day moving average is $34.82 and its 200-day moving average is $32.32. Sanara MedTech Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $43.25.

Sanara MedTech (NASDAQ:SMTI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.28. The company had revenue of $21.67 million for the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same period in the previous year, the company earned ($0.13) earnings per share. Equities research analysts expect that Sanara MedTech Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright began coverage on Sanara MedTech in a research report on Monday, December 23rd. They set a “buy” rating and a $50.00 price objective for the company.

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.