Walleye Capital LLC purchased a new position in Sanara MedTech Inc. (NASDAQ:SMTI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 30,465 shares of the company’s stock, valued at approximately $719,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of Sanara MedTech by 14.9% during the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after purchasing an additional 483 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Sanara MedTech in the second quarter valued at about $382,000. Marshall Wace LLP lifted its stake in shares of Sanara MedTech by 144.3% in the second quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after buying an additional 42,237 shares during the period. Lazard Asset Management LLC grew its position in Sanara MedTech by 63,100.0% during the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after buying an additional 3,155 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Sanara MedTech by 26.5% during the third quarter. JPMorgan Chase & Co. now owns 11,057 shares of the company’s stock worth $351,000 after buying an additional 2,315 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SMTI. Lake Street Capital cut Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, HC Wainwright lowered shares of Sanara MedTech from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $35.00 in a research report on Thursday, July 30th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sanara MedTech has a consensus rating of “Reduce” and a consensus price target of $35.00.
Sanara MedTech Price Performance
Shares of Sanara MedTech stock opened at $34.15 on Friday. The stock has a market capitalization of $313.84 million, a price-to-earnings ratio of -9.51 and a beta of 1.13. The firm’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $22.15. The company has a current ratio of 2.58, a quick ratio of 2.05 and a debt-to-equity ratio of 5.86. Sanara MedTech Inc. has a 1-year low of $16.05 and a 1-year high of $35.95.
Sanara MedTech (NASDAQ:SMTI – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%.The business had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. On average, equities analysts predict that Sanara MedTech Inc. will post 0.16 earnings per share for the current fiscal year.
About Sanara MedTech
Sanara MedTech is a medical technology company focused on developing and commercializing innovative devices for ear, nose and throat (ENT) healthcare. The company’s core offering centers on minimally invasive sinus dilation systems designed to treat chronic sinusitis and related conditions. These products leverage balloon catheter technology to expand sinus pathways and improve patient outcomes while reducing recovery times. In addition to sinus solutions, the portfolio extends to procedural tools and implants for otology and cranial applications.
With its legacy rooted in the assets of a former Johnson & Johnson business, Sanara MedTech combines decades of research and development in ENT therapies.
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