Geode Capital Management LLC Grows Position in Sanara MedTech Inc. (NASDAQ:SMTI)

Geode Capital Management LLC boosted its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,271 shares of the company’s stock after acquiring an additional 3,755 shares during the period. Geode Capital Management LLC owned 1.01% of Sanara MedTech worth $2,670,000 at the end of the most recent quarter.

Separately, State Street Corp boosted its holdings in shares of Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after purchasing an additional 4,932 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

Sanara MedTech Stock Performance

Shares of NASDAQ:SMTI opened at $32.42 on Wednesday. The firm has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $32.46. Sanara MedTech Inc. has a 52 week low of $26.00 and a 52 week high of $41.90. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76. The stock 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate 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 company had revenue of $21.67 million during the quarter. During the same quarter in the prior year, the business posted ($0.13) EPS. On average, analysts expect that Sanara MedTech Inc. will post -1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on Sanara MedTech in a report on Monday, December 23rd. They issued a “buy” rating and a $50.00 target price on the stock.

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.