Sanara MedTech (NASDAQ:SMTI) Stock Price Up 2.9% – Here’s What Happened

Sanara MedTech Inc. (NASDAQ:SMTI) shares shot up 2.9% on Wednesday . The company traded as high as $19.75 and last traded at $19.65. 85,287 shares traded hands during trading, an increase of 22% from the average session volume of 70,159 shares. The stock had previously closed at $19.09.

Analyst Ratings Changes

SMTI has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of Sanara MedTech in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research note on Thursday, January 22nd. Wall Street Zen lowered Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Zacks Research lowered Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sanara MedTech presently has a consensus rating of “Hold” and an average target price of $41.00.

Sanara MedTech Price Performance

The firm has a market cap of $174.89 million, a price-to-earnings ratio of -4.66 and a beta of 1.01. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 7.34. The company has a 50 day moving average of $22.59 and a 200 day moving average of $26.54.

Institutional Trading of Sanara MedTech

Hedge funds have recently bought and sold shares of the stock. Stonebridge Wealth Management LLC bought a new position in Sanara MedTech in the second quarter valued at approximately $3,397,000. Royal Bank of Canada increased its position in shares of Sanara MedTech by 127.3% during the fourth quarter. Royal Bank of Canada now owns 117,643 shares of the company’s stock worth $2,747,000 after acquiring an additional 65,887 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Sanara MedTech by 144.3% during the second quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,237 shares during the period. Squarepoint Ops LLC lifted its position in Sanara MedTech by 343.4% in the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after acquiring an additional 24,305 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Sanara MedTech in the 4th quarter worth $355,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Sanara MedTech

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.