XTX Topco Ltd Acquires New Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

XTX Topco Ltd acquired a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,104 shares of the company’s stock, valued at approximately $160,000.

A number of other institutional investors have also bought and sold shares of TMCI. Renaissance Technologies LLC increased its holdings in shares of Treace Medical Concepts by 16.4% in the second quarter. Renaissance Technologies LLC now owns 206,500 shares of the company’s stock valued at $1,373,000 after purchasing an additional 29,100 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock valued at $24,483,000 after buying an additional 1,352,207 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in shares of Treace Medical Concepts in the 2nd quarter worth $123,000. Acadian Asset Management LLC acquired a new stake in shares of Treace Medical Concepts in the 2nd quarter worth $2,247,000. Finally, Rhumbline Advisers raised its holdings in shares of Treace Medical Concepts by 50.8% during the 2nd quarter. Rhumbline Advisers now owns 92,849 shares of the company’s stock worth $617,000 after acquiring an additional 31,281 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Truist Financial dropped their price target on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group raised their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Treace Medical Concepts presently has an average rating of “Hold” and a consensus price target of $7.30.

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace bought 85,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the acquisition, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Treace Medical Concepts news, Director James T. Treace bought 84,000 shares of Treace Medical Concepts stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the acquisition, the director now directly owns 1,223,441 shares in the company, valued at $7,291,708.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John T. Treace purchased 85,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 219,000 shares of company stock worth $1,276,140. 24.43% of the stock is currently owned by company insiders.

Treace Medical Concepts Stock Performance

Shares of TMCI stock opened at $5.80 on Tuesday. The company has a 50-day moving average of $6.10 and a two-hundred day moving average of $7.65. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The firm had revenue of $44.46 million during the quarter, compared to analysts’ expectations of $43.00 million. During the same period in the previous year, the firm earned ($0.20) EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Treace Medical Concepts Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices 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.