Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,056 shares of the company’s stock after acquiring an additional 3,452 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Treace Medical Concepts were worth $142,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock worth $14,711,000 after purchasing an additional 714,984 shares during the period. William Blair Investment Management LLC boosted its position in Treace Medical Concepts by 22.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock worth $21,865,000 after purchasing an additional 546,787 shares during the period. Renaissance Technologies LLC boosted its position in Treace Medical Concepts by 217.3% during the 4th quarter. Renaissance Technologies LLC now owns 112,000 shares of the company’s stock worth $833,000 after purchasing an additional 76,700 shares during the period. Norges Bank purchased a new stake in Treace Medical Concepts during the 4th quarter worth $490,000. Finally, Barclays PLC boosted its position in Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after purchasing an additional 62,073 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Sean F. Scanlan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 27.72% of the company’s stock.

Treace Medical Concepts Stock Down 0.4%

Treace Medical Concepts stock opened at $6.72 on Friday. The company has a market capitalization of $422.62 million, a P/E ratio of -6.79 and a beta of 0.79. Treace Medical Concepts, Inc. has a 1-year low of $4.54 and a 1-year high of $10.79. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $7.40 and its 200-day simple moving average is $8.03.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research report on Friday, April 11th. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.16.

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.