Fifth Third Bancorp Makes New Investment in Sanara MedTech Inc. (NASDAQ:SMTI)

Fifth Third Bancorp bought a new position in shares of Sanara MedTech Inc. (NASDAQ:SMTI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,037 shares of the company's stock, valued at approximately $898,000. Fifth Third Bancorp owned approximately 0.31% of Sanara MedTech as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company's stock worth $2,670,000 after buying an additional 3,755 shares in the last quarter. State Street Corp boosted its position in shares of Sanara MedTech by 9.2% during the 3rd quarter. State Street Corp now owns 58,688 shares of the company's stock worth $1,775,000 after acquiring an additional 4,932 shares in the last quarter. Barclays PLC increased its stake in Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company's stock valued at $174,000 after acquiring an additional 4,376 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company's stock valued at $123,000 after purchasing an additional 2,272 shares in the last quarter. Institutional investors own 8.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SMTI. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Sanara MedTech in a report on Thursday, January 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $44.00 price objective on shares of Sanara MedTech in a research note on Wednesday, January 22nd.

Sanara MedTech Price Performance

Sanara MedTech stock traded down $0.11 during mid-day trading on Thursday, reaching $36.21. The company had a trading volume of 6,358 shares, compared to its average volume of 28,151. The business has a fifty day simple moving average of $34.77 and a 200 day simple moving average of $33.15. The company has a market cap of $316.43 million, a P/E ratio of -36.57 and a beta of 1.55. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. Sanara MedTech Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $40.75.

Sanara MedTech (NASDAQ:SMTI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The business had revenue of $21.67 million for the quarter. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, equities research analysts predict that Sanara MedTech Inc. will post -1.33 earnings per share for the current year.

Sanara MedTech Profile

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.