Millennium Management LLC Has $2.45 Million Stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Millennium Management LLC decreased its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 40.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 328,773 shares of the company’s stock after selling 225,719 shares during the period. Millennium Management LLC owned about 0.53% of Treace Medical Concepts worth $2,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMCI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Treace Medical Concepts by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after buying an additional 1,216 shares in the last quarter. Rhumbline Advisers lifted its position in Treace Medical Concepts by 2.0% in the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after buying an additional 1,300 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Treace Medical Concepts by 2.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after buying an additional 2,150 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Treace Medical Concepts by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company’s stock worth $937,000 after buying an additional 3,215 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Treace Medical Concepts by 22.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company’s stock worth $142,000 after buying an additional 3,452 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Insider Activity at Treace Medical Concepts

In related news, insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the transaction, the insider now directly owns 364,081 shares in the company, valued at approximately $2,901,725.57. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 27.72% of the stock is currently owned by company insiders.

Treace Medical Concepts Stock Down 1.7%

Treace Medical Concepts stock opened at $5.76 on Monday. The company has a market capitalization of $362.25 million, a P/E ratio of -5.82 and a beta of 0.79. The firm’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $7.98. 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 $4.54 and a 1-year high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. Treace Medical Concepts’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm 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 Ratings Changes

A number of research firms have issued reports on TMCI. UBS Group cut their target price 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. BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, February 4th. Finally, Truist Financial cut their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.16.

Treace Medical Concepts Company 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.