Fmr LLC Purchases 54,353 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Fmr LLC grew its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 228.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,135 shares of the company’s stock after purchasing an additional 54,353 shares during the quarter. Fmr LLC owned about 0.13% of Treace Medical Concepts worth $453,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Armistice Capital LLC boosted its holdings in Treace Medical Concepts by 123.3% in the 2nd quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock worth $35,644,000 after buying an additional 2,960,000 shares during the period. William Blair Investment Management LLC lifted its position in shares of Treace Medical Concepts by 58.0% during the second quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after acquiring an additional 1,352,207 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Treace Medical Concepts by 65.9% in the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock worth $3,079,000 after acquiring an additional 183,921 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Treace Medical Concepts by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company’s stock valued at $2,268,000 after purchasing an additional 17,783 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at $2,412,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Down 0.6 %

TMCI stock opened at $6.90 on Friday. The company’s 50 day moving average is $6.91 and its 200 day moving average is $6.47. The stock has a market cap of $429.85 million, a price-to-earnings ratio of -6.97 and a beta of 0.66. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday. Stifel Nicolaus boosted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial increased their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Treace Medical Concepts has an average rating of “Hold” and an average target price of $7.88.

About Treace Medical Concepts

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.