Renaissance Technologies LLC Boosts Stake in Sanara MedTech Inc. $SMTI

Renaissance Technologies LLC boosted its stake in shares of Sanara MedTech Inc. (NASDAQ:SMTI) by 72.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,680 shares of the company’s stock after purchasing an additional 27,078 shares during the period. Renaissance Technologies LLC owned about 0.71% of Sanara MedTech worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of Sanara MedTech by 351.7% in the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after buying an additional 1,171 shares during the period. Lazard Asset Management LLC grew its stake in shares of Sanara MedTech by 63,100.0% during the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after acquiring an additional 3,155 shares during the period. Bank of America Corp DE grew its stake in shares of Sanara MedTech by 44.1% during the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after acquiring an additional 973 shares during the period. Wells Fargo & Company MN increased its holdings in Sanara MedTech by 78.1% in the 4th 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. Finally, Rhumbline Advisers increased its holdings in Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after acquiring an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Sanara MedTech Stock Performance

SMTI opened at $34.15 on Friday. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.05 and a current ratio of 2.58. The stock has a market capitalization of $313.77 million, a price-to-earnings ratio of -9.51 and a beta of 1.13. The company has a fifty day moving average of $26.40 and a 200 day moving average of $22.15. Sanara MedTech Inc. has a fifty-two week low of $16.05 and a fifty-two week high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.95 million. Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%. As a group, sell-side analysts forecast that Sanara MedTech Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on SMTI shares. HC Wainwright downgraded shares of Sanara MedTech from a “buy” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $35.00 in a 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. Freedom Capital downgraded shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen downgraded shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sanara MedTech presently has an average rating of “Reduce” and an average price target of $35.00.

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.