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Sanara MedTech (NASDAQ:SMTI - Get Rating) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, "Wound Management Technologies Inc. develops and markets wound care products. It develops, markets and distributes biotechnology products to physicians, hospitals and clinics. The Company markets collagen-based products for the treatment of pressure ulcers, diabetic ulcers, surgical wounds, ulcers due to arterial insufficiency, traumatic wounds, first and second degree burns and superficial wounds. It sells and distributes CellerateRX(R) Surgical Activated Collagen(R) Adjuvant as well as HemaQuell(R) Resorbable Bone Hemostat. Wound Management Technologies Inc. is based in Fort Worth, Texas. "
Separately, Cantor Fitzgerald reissued an "overweight" rating on shares of Sanara MedTech in a research note on Monday, May 2nd.
Shares of Sanara MedTech stock opened at $21.70 on Wednesday. The stock has a 50 day moving average of $25.80 and a 200 day moving average of $26.42. The firm has a market capitalization of $173.12 million, a price-to-earnings ratio of -16.44 and a beta of 2.24. Sanara MedTech has a fifty-two week low of $17.41 and a fifty-two week high of $43.89.
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Large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Sanara MedTech by 8.3% in the first quarter. State Street Corp now owns 8,013 shares of the company's stock valued at $222,000 after purchasing an additional 613 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Sanara MedTech by 50.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock worth $154,000 after purchasing an additional 1,500 shares during the last quarter. Royal Bank of Canada acquired a new stake in Sanara MedTech in the second quarter valued at $74,000. Morgan Stanley boosted its position in shares of Sanara MedTech by 976.2% during the 3rd quarter. Morgan Stanley now owns 4,251 shares of the company's stock worth $146,000 after acquiring an additional 3,856 shares in the last quarter. Finally, Susquehanna International Group LLP increased its holdings in shares of Sanara MedTech by 30.2% in the 4th quarter. Susquehanna International Group LLP now owns 16,800 shares of the company's stock valued at $511,000 after acquiring an additional 3,900 shares during the last quarter. Institutional investors own 4.35% of the company's stock.
About Sanara MedTech (Get Rating)
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 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.
Further ReadingGet a free copy of the StockNews.com research report on Sanara MedTech (SMTI)Investors Can Get 5%-Plus Dividend Yields on These 3 BuysTwo Retailers, One To Buy And One To Avoid It’s Time to Buy into Planet Fitness StockIndie Semiconductor Stock is Putting in a Bottom3 Defensive Consumer Stocks Worth Shopping For
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