Y Intercept Hong Kong Ltd Raises Stake in Treace Medical Concepts, Inc. $TMCI

Y Intercept Hong Kong Ltd lifted its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 645.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,413 shares of the company’s stock after buying an additional 201,252 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.37% of Treace Medical Concepts worth $1,367,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth approximately $2,120,000. Arcadia Wealth Management Inc. purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth approximately $1,762,000. Acadian Asset Management LLC lifted its position in shares of Treace Medical Concepts by 66.9% during the 1st quarter. Acadian Asset Management LLC now owns 126,457 shares of the company’s stock worth $1,060,000 after buying an additional 50,669 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth approximately $5,987,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth approximately $3,929,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TMCI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Truist Financial reduced their price objective on shares of Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $6.50 price target (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.67.

Treace Medical Concepts Stock Up 0.6%

TMCI stock opened at $6.39 on Monday. The company has a fifty day moving average price of $6.79 and a 200 day moving average price of $6.43. Treace Medical Concepts, Inc. has a 12 month low of $4.54 and a 12 month high of $10.79. The company has a market cap of $403.66 million, a price-to-earnings ratio of -8.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.52 and a quick ratio of 2.51.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Tuesday, January 9th. The company reported ($0.22) EPS for the quarter. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. The business had revenue of $33.06 million during the quarter. Sell-side analysts expect that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current 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.