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

Barclays PLC raised its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 323.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,731 shares of the company’s stock after purchasing an additional 4,376 shares during the quarter. Barclays PLC owned 0.07% of Sanara MedTech worth $174,000 as of its most recent filing with the SEC.

Separately, State Street Corp lifted its position in shares of Sanara MedTech by 9.2% in the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after acquiring an additional 4,932 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

Sanara MedTech Stock Performance

NASDAQ:SMTI opened at $32.42 on Wednesday. The firm has a market capitalization of $283.38 million, a PE ratio of -32.75 and a beta of 1.55. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. Sanara MedTech Inc. has a 12-month low of $26.00 and a 12-month high of $41.90. The firm has a 50-day moving average price of $34.91 and a 200 day moving average price of $32.46.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data 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 during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same period in the previous year, the business posted ($0.13) EPS. Research analysts anticipate that Sanara MedTech Inc. will post -1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright started 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 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.