Sanara MedTech (NASDAQ:SMTI) Stock Price Up 1% – Should You Buy?

Sanara MedTech Inc. (NASDAQ:SMTI)’s share price rose 1% on Friday . The stock traded as high as $35.00 and last traded at $34.69. Approximately 28,086 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 22,751 shares. The stock had previously closed at $34.35.

Analyst Upgrades and Downgrades

SMTI has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price target on shares of Sanara MedTech in a research note on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Sanara MedTech in a report on Thursday, January 23rd.

Sanara MedTech Trading Up 1.0 %

The firm has a market capitalization of $303.23 million, a price-to-earnings ratio of -35.04 and a beta of 1.57. The company has a fifty day moving average price of $34.59 and a two-hundred day moving average price of $33.95. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in Sanara MedTech by 53.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after acquiring an additional 663 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Sanara MedTech in the fourth quarter valued at approximately $106,000. Deutsche Bank AG lifted its holdings in Sanara MedTech by 75.4% in the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after acquiring an additional 1,525 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Sanara MedTech by 127.2% in the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after acquiring an additional 2,272 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Sanara MedTech by 38.7% in the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $125,000 after acquiring an additional 1,055 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.