Treace Medical Concepts, Inc. (NASDAQ:TMCI) Holdings Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 34,240.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,272 shares of the company’s stock after acquiring an additional 9,245 shares during the period. Nisa Investment Advisors LLC’s holdings in Treace Medical Concepts were worth $62,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Armistice Capital LLC acquired a new position in Treace Medical Concepts in the 4th quarter worth about $36,414,000. TimesSquare Capital Management LLC increased its holdings in Treace Medical Concepts by 22.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock worth $22,301,000 after buying an additional 315,691 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Treace Medical Concepts by 5.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after acquiring an additional 76,030 shares in the last quarter. Norges Bank acquired a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $8,725,000. Finally, Gabelli Funds LLC grew its position in Treace Medical Concepts by 1.5% in the fourth quarter. Gabelli Funds LLC now owns 143,359 shares of the company’s stock worth $1,828,000 after acquiring an additional 2,107 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $6.42 on Monday. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $16.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. The business’s fifty day moving average price is $6.79 and its two-hundred day moving average price is $9.26. The stock has a market capitalization of $398.09 million, a price-to-earnings ratio of -7.30 and a beta of 0.23.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $44.46 million for the quarter, compared to the consensus estimate of $43.00 million. Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) earnings per share. As a group, analysts predict that Treace Medical Concepts, Inc. will post -0.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TMCI has been the topic of a number of recent research reports. BTIG Research downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Morgan Stanley raised their target price on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Truist Financial decreased their price target on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Treace Medical Concepts from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $8.00 in a research note on Wednesday, May 8th. Finally, UBS Group upped their price objective on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.71.

Insider Activity

In related news, Director James T. Treace acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $5.07 per share, with a total value of $253,500.00. Following the acquisition, the director now directly owns 1,089,441 shares in the company, valued at $5,523,465.87. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Treace Medical Concepts news, CEO John T. Treace bought 85,000 shares of Treace Medical Concepts stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $6.00 per share, with a total value of $510,000.00. Following the purchase, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James T. Treace purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $5.07 per share, with a total value of $253,500.00. Following the completion of the purchase, the director now owns 1,089,441 shares of the company’s stock, valued at $5,523,465.87. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 289,000 shares of company stock worth $1,679,990. 24.43% of the stock is 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.