Transmarket Holdings LP Buys New Position in Sanara MedTech Inc. $SMTI

Transmarket Holdings LP bought a new stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) during the third quarter, HoldingsChannel.com reports. The fund bought 148,956 shares of the company’s stock, valued at approximately $5,234,000. Sanara MedTech makes up about 2.9% of Transmarket Holdings LP’s holdings, making the stock its 8th largest holding.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Sanara MedTech during the 2nd quarter worth approximately $5,870,000. Royal Bank of Canada boosted its holdings in Sanara MedTech by 11.7% during the 1st quarter. Royal Bank of Canada now owns 131,389 shares of the company’s stock valued at $2,257,000 after acquiring an additional 13,746 shares during the period. Renaissance Technologies LLC grew its position in Sanara MedTech by 72.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after acquiring an additional 27,078 shares during the last quarter. Walleye Capital LLC bought a new position in Sanara MedTech in the 2nd quarter valued at $719,000. Finally, Hsbc Holdings PLC grew its position in Sanara MedTech by 34.5% in the 2nd quarter. Hsbc Holdings PLC now owns 23,254 shares of the company’s stock valued at $550,000 after acquiring an additional 5,971 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. HC Wainwright cut shares of Sanara MedTech from a “buy” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $35.00 in a report on Thursday, July 30th. Weiss Ratings raised shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Lake Street Capital downgraded 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. Finally, Freedom Capital lowered shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sanara MedTech currently has an average rating of “Reduce” and an average price target of $35.00.

Sanara MedTech Trading Up 0.1%

SMTI opened at $32.88 on Thursday. The stock’s fifty day moving average is $34.56 and its two-hundred day moving average is $25.44. The company has a market capitalization of $302.17 million, a P/E ratio of -9.16 and a beta of 1.19. Sanara MedTech Inc. has a 52 week low of $16.05 and a 52 week high of $35.52. The company has a quick ratio of 2.30, a current ratio of 2.58 and a debt-to-equity ratio of 5.86.

Sanara MedTech (NASDAQ:SMTI) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.95 million. Analysts forecast that Sanara MedTech Inc. will post 0.16 earnings per share for the current year.

Sanara MedTech Profile

Sanara MedTech Inc is a medical technology company focused on developing, commercializing and distributing products used in wound care, surgical soft-tissue repair and tissue regeneration. The company serves healthcare providers treating acute, chronic and complex wounds, as well as patients requiring surgical tissue management.

Sanara’s product portfolio includes advanced wound-care and tissue-repair technologies such as CellerateRX products, FORTIFY tissue-repair products and other regenerative medicine solutions.