Nuveen Asset Management LLC Has $3.52 Million Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Nuveen Asset Management LLC boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 472,840 shares of the company’s stock after buying an additional 48,525 shares during the period. Nuveen Asset Management LLC owned approximately 0.76% of Treace Medical Concepts worth $3,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $342,000. Norges Bank purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth about $490,000. Rhumbline Advisers lifted its holdings in shares of Treace Medical Concepts by 2.0% in the fourth 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. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Treace Medical Concepts by 25.9% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,200 shares of the company’s stock worth $2,040,000 after buying an additional 56,445 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $590,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 1.7%

Treace Medical Concepts stock opened at $5.76 on Monday. The business has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $7.98. The company has a market cap of $362.25 million, a P/E ratio of -5.82 and a beta of 0.79. Treace Medical Concepts, Inc. has a 52-week low of $4.54 and a 52-week high of $10.79. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.06. The company had revenue of $52.57 million during 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) EPS. Analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

TMCI has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Finally, UBS Group cut their price target on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating on the stock in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Treace Medical Concepts has a consensus rating of “Hold” and an average target price of $10.16.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now directly owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.72% of the stock is currently owned by corporate insiders.

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.