Renaissance Technologies LLC Acquires 27,078 Shares of Sanara MedTech Inc. $SMTI

Renaissance Technologies LLC grew its holdings in Sanara MedTech Inc. (NASDAQ:SMTI) by 72.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,680 shares of the company’s stock after buying an additional 27,078 shares during the period. Renaissance Technologies LLC’s holdings in Sanara MedTech were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SMTI. BNP Paribas Financial Markets raised its position in shares of Sanara MedTech by 351.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after buying an additional 1,171 shares in the last quarter. Wells Fargo & Company MN grew its position in Sanara MedTech by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock worth $78,000 after acquiring an additional 1,457 shares in the last quarter. Lazard Asset Management LLC grew its position in Sanara MedTech by 63,100.0% in the second quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after acquiring an additional 3,155 shares in the last quarter. Deutsche Bank AG increased its stake in Sanara MedTech by 171.1% during the fourth quarter. Deutsche Bank AG now owns 3,985 shares of the company’s stock worth $93,000 after acquiring an additional 2,515 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock worth $101,000 after acquiring an additional 973 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SMTI shares. Lake Street Capital downgraded Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 30th. Weiss Ratings raised shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. HC Wainwright cut shares of Sanara MedTech from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $35.00 in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Freedom Capital cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $35.00.

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $34.15 on Friday. The firm has a market cap of $313.77 million, a P/E ratio of -9.51 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 2.05 and a debt-to-equity ratio of 5.86. Sanara MedTech Inc. has a 12 month low of $16.05 and a 12 month high of $35.95. The stock’s fifty day moving average price is $26.40 and its 200-day moving average price is $22.15.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Sanara MedTech had a negative net margin of 29.15% and a positive return on equity of 29.72%. The firm had revenue of $28.14 million during the quarter, compared to the consensus estimate of $28.95 million. On average, equities research analysts expect that Sanara MedTech Inc. will post 0.16 earnings per share for the current fiscal year.

Sanara MedTech Profile

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.