Sanara MedTech (NASDAQ:SMTI) Price Target Cut to $44.00

Sanara MedTech (NASDAQ:SMTI) had its price objective reduced by Cantor Fitzgerald from $49.00 to $44.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Sanara MedTech Stock Down 0.8 %

Shares of NASDAQ:SMTI opened at $37.00 on Wednesday. Sanara MedTech has a 12-month low of $26.06 and a 12-month high of $50.18. The stock has a fifty day simple moving average of $37.01 and a two-hundred day simple moving average of $34.73. The company has a current ratio of 1.38, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $318.94 million, a price-to-earnings ratio of -71.15 and a beta of 1.59.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Sanara MedTech by 1,900.7% in the second quarter. BlackRock Inc. now owns 172,424 shares of the company’s stock worth $6,914,000 after purchasing an additional 163,806 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sanara MedTech by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 140,046 shares of the company’s stock worth $5,756,000 after purchasing an additional 4,403 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sanara MedTech by 133.2% in the second quarter. Geode Capital Management LLC now owns 68,486 shares of the company’s stock worth $2,746,000 after purchasing an additional 39,124 shares during the last quarter. State Street Corp raised its stake in shares of Sanara MedTech by 396.6% in the second quarter. State Street Corp now owns 51,710 shares of the company’s stock worth $2,074,000 after purchasing an additional 41,297 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Sanara MedTech by 470.3% in the second quarter. Northern Trust Corp now owns 31,177 shares of the company’s stock worth $1,250,000 after acquiring an additional 25,710 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Sanara MedTech Company Profile

Sanara MedTech Inc develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. It also offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution.