Rhumbline Advisers Raises Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Rhumbline Advisers increased its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 50.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,849 shares of the company’s stock after buying an additional 31,281 shares during the quarter. Rhumbline Advisers’ holdings in Treace Medical Concepts were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TMCI. Norges Bank purchased a new position in Treace Medical Concepts in the 4th quarter worth approximately $8,725,000. Trexquant Investment LP bought a new position in Treace Medical Concepts in the 4th quarter valued at about $132,000. Quest Partners LLC acquired a new position in shares of Treace Medical Concepts during the 4th quarter valued at $68,000. Capstone Investment Advisors LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter valued at $163,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of 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 during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TMCI shares. Truist Financial dropped their price target on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.30.

Treace Medical Concepts Stock Up 2.6 %

Shares of NASDAQ:TMCI opened at $5.43 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. Treace Medical Concepts, Inc. has a one year low of $3.92 and a one year high of $15.98. The company has a 50 day moving average of $6.28 and a 200-day moving average of $7.85. The stock has a market cap of $336.70 million, a price-to-earnings ratio of -6.17 and a beta of 0.21.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The business had revenue of $44.46 million for the quarter, compared to the consensus estimate of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. On average, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John T. Treace bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $5.31 per share, with a total value of $265,500.00. Following the completion of the purchase, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Treace Medical Concepts news, Director James T. Treace purchased 84,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the purchase, the director now owns 1,223,441 shares of the company’s stock, valued at approximately $7,291,708.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John T. Treace purchased 50,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the transaction, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. The disclosure for this purchase can be found here. Insiders bought a total of 219,000 shares of company stock valued at $1,276,140 in the last quarter. 24.43% of the stock is currently owned by insiders.

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.