State Street Corp Acquires 4,932 Shares of Sanara MedTech Inc. (NASDAQ:SMTI)

State Street Corp increased its holdings in Sanara MedTech Inc. (NASDAQ:SMTI) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,688 shares of the company’s stock after purchasing an additional 4,932 shares during the period. State Street Corp’s holdings in Sanara MedTech were worth $1,775,000 at the end of the most recent quarter.

Sanara MedTech Stock Up 0.0 %

Shares of NASDAQ SMTI opened at $33.20 on Thursday. Sanara MedTech Inc. has a 1 year low of $26.00 and a 1 year high of $43.25. The firm’s 50-day moving average is $34.82 and its 200-day moving average is $32.32. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $290.20 million, a PE ratio of -33.54 and a beta of 1.57.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results 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 company had revenue of $21.67 million during the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities analysts expect that Sanara MedTech Inc. will post -1.42 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright initiated coverage on shares of Sanara MedTech in a research note on Monday, December 23rd. They issued a “buy” rating and a $50.00 target price on the stock.

About Sanara MedTech

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.