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

Janney Montgomery Scott LLC lessened its holdings in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,315 shares of the company’s stock after selling 6,531 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.30% of Sanara MedTech worth $874,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 3,755 shares in the last quarter. State Street Corp increased its holdings in Sanara MedTech by 9.2% in 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 during the last quarter. Barclays PLC raised its position in Sanara MedTech by 323.0% during the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after acquiring an additional 4,376 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after acquiring an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Sanara MedTech Stock Down 2.9 %

Shares of Sanara MedTech stock opened at $35.40 on Friday. Sanara MedTech Inc. has a 12-month low of $26.00 and a 12-month high of $40.75. 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 50 day moving average price of $34.66 and a two-hundred day moving average price of $33.36. The stock has a market capitalization of $309.40 million, a P/E ratio of -35.76 and a beta of 1.57.

Sanara MedTech (NASDAQ:SMTI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.28. The business 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 prior year, the company posted ($0.13) earnings per share. Equities analysts expect that Sanara MedTech Inc. will post -1.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMTI has been the topic of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $44.00 price target on shares of Sanara MedTech in a research note on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Sanara MedTech in a research report on Thursday, January 23rd.

Sanara MedTech 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.