American International Group Inc. Boosts Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

American International Group Inc. raised its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 22.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,765 shares of the company’s stock after purchasing an additional 4,010 shares during the period. American International Group Inc.’s holdings in Treace Medical Concepts were worth $557,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Treace Medical Concepts during the second quarter valued at approximately $621,000. Barclays PLC grew its stake in Treace Medical Concepts by 3.5% during the second quarter. Barclays PLC now owns 19,274 shares of the company’s stock valued at $475,000 after acquiring an additional 653 shares in the last quarter. Van ECK Associates Corp grew its stake in Treace Medical Concepts by 21.1% during the second quarter. Van ECK Associates Corp now owns 2,753 shares of the company’s stock valued at $70,000 after acquiring an additional 479 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Treace Medical Concepts by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 163,299 shares of the company’s stock valued at $4,177,000 after acquiring an additional 39,645 shares in the last quarter. Finally, Arizona State Retirement System purchased a new position in Treace Medical Concepts during the second quarter valued at approximately $286,000. Hedge funds and other institutional investors own 61.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $28.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 10th. UBS Group began coverage on shares of Treace Medical Concepts in a research note on Friday, September 29th. They set a “buy” rating and a $24.00 price objective for the company. Truist Financial cut their price target on shares of Treace Medical Concepts from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Morgan Stanley cut their price target on shares of Treace Medical Concepts from $30.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, November 13th. Finally, BTIG Research cut their price target on shares of Treace Medical Concepts from $32.00 to $27.50 and set a “buy” rating for the company in a research note on Monday, August 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.92.

Treace Medical Concepts Trading Up 1.1 %

Shares of TMCI opened at $8.44 on Friday. The firm has a market cap of $520.58 million, a price-to-earnings ratio of -10.68 and a beta of 0.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.76 and a current ratio of 5.64. Treace Medical Concepts, Inc. has a fifty-two week low of $5.27 and a fifty-two week high of $27.97. The firm has a 50 day moving average price of $11.24 and a 200-day moving average price of $18.62.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $40.76 million during the quarter, compared to the consensus estimate of $42.08 million. Treace Medical Concepts had a negative return on equity of 37.68% and a negative net margin of 27.28%. As a group, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.79 earnings per share for the current year.

Treace Medical Concepts Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices for physicians, surgeons, ambulatory surgery centers, and hospitals in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.