Hsbc Holdings PLC bought a new stake in Sanara MedTech Inc. (NASDAQ:SMTI – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,254 shares of the company’s stock, valued at approximately $550,000.
Several other large investors also recently modified their holdings of SMTI. Rhumbline Advisers raised its stake in shares of Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock valued at $115,000 after purchasing an additional 483 shares during the period. Geode Capital Management LLC grew its stake in shares of Sanara MedTech by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 79,049 shares of the company’s stock worth $1,846,000 after acquiring an additional 546 shares in the last quarter. State Street Corp raised its holdings in shares of Sanara MedTech by 1.1% in the fourth quarter. State Street Corp now owns 62,289 shares of the company’s stock valued at $1,454,000 after purchasing an additional 690 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Sanara MedTech by 44.1% in the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after purchasing an additional 973 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after purchasing an additional 1,171 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on SMTI. Lake Street Capital lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research note on Thursday, July 30th. Zacks Research upgraded Sanara MedTech from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Wall Street Zen cut Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Freedom Capital cut shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $35.00.
Sanara MedTech Stock Up 0.0%
SMTI opened at $34.80 on Thursday. The stock’s fifty day simple moving average is $29.64 and its 200 day simple moving average is $23.43. Sanara MedTech Inc. has a 1-year low of $16.05 and a 1-year high of $35.95. The stock has a market cap of $319.81 million, a PE ratio of -9.69 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 2.30 and a debt-to-equity ratio of 5.86.
Sanara MedTech (NASDAQ:SMTI – Get Free Report) last released its quarterly earnings data 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 company had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.95 million. As a group, research analysts expect that Sanara MedTech Inc. will post 0.16 earnings per share for the current year.
Sanara MedTech Profile
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.
Read More
- Five stocks we like better than Sanara MedTech
- Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors
- J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It
- Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real?
- GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test
Want to see what other hedge funds are holding SMTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sanara MedTech Inc. (NASDAQ:SMTI – Free Report).
Receive News & Ratings for Sanara MedTech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanara MedTech and related companies with MarketBeat.com's FREE daily email newsletter.
