Sanara MedTech (NASDAQ:SMTI) Given New $44.00 Price Target at Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI) had its price target trimmed by Cantor Fitzgerald from $49.00 to $44.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Sanara MedTech Stock Performance

SMTI opened at $37.30 on Wednesday. Sanara MedTech has a 1-year low of $26.06 and a 1-year high of $50.18. The company has a market cap of $318.54 million, a price-to-earnings ratio of -71.73 and a beta of 1.59. The company’s fifty day moving average price is $37.02 and its two-hundred day moving average price is $34.70. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Sanara MedTech

Several large investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in Sanara MedTech by 138.8% during the first quarter. UBS Group AG now owns 609 shares of the company’s stock worth $25,000 after acquiring an additional 354 shares during the period. Barclays PLC bought a new stake in shares of Sanara MedTech during the 2nd quarter worth $30,000. Tower Research Capital LLC TRC boosted its holdings in shares of Sanara MedTech by 363.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 797 shares of the company’s stock worth $25,000 after buying an additional 625 shares during the last quarter. Gladius Capital Management LP bought a new position in Sanara MedTech during the fourth quarter valued at about $45,000. Finally, California State Teachers Retirement System bought a new position in Sanara MedTech during the second quarter valued at about $51,000. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.