Bank of New York Mellon Corp Purchases 2,528 Shares of Sanara MedTech Inc. (NASDAQ:SMTI)

Bank of New York Mellon Corp increased its position in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,054 shares of the company’s stock after buying an additional 2,528 shares during the quarter. Bank of New York Mellon Corp owned 0.15% of Sanara MedTech worth $433,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in Sanara MedTech during the fourth quarter worth $898,000. Barclays PLC lifted its stake in Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares during the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 3,755 shares during the last quarter. State Street Corp boosted its position 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. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Sanara MedTech by 127.2% during the third 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. Institutional investors own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. HC Wainwright upped their price objective on shares of Sanara MedTech from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 price objective on shares of Sanara MedTech in a report on Wednesday.

Sanara MedTech Stock Down 3.3 %

Shares of NASDAQ SMTI opened at $30.19 on Friday. The business has a 50-day simple moving average of $34.26 and a two-hundred day simple moving average of $33.74. The company has a market cap of $263.89 million, a P/E ratio of -30.49 and a beta of 1.37. Sanara MedTech Inc. has a 52 week low of $26.00 and a 52 week high of $39.08. 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 (NASDAQ:SMTI) last released its earnings results on Tuesday, March 25th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The business had revenue of $26.31 million for the quarter, compared to analysts’ expectations of $22.75 million. Research analysts anticipate that Sanara MedTech Inc. will post -1.1 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.