Renaissance Technologies LLC Acquires 29,100 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Renaissance Technologies LLC boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,500 shares of the company’s stock after purchasing an additional 29,100 shares during the period. Renaissance Technologies LLC owned about 0.33% of Treace Medical Concepts worth $1,373,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC raised its holdings in shares of Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after buying an additional 1,352,207 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Treace Medical Concepts during the second quarter valued at $2,247,000. Bank of New York Mellon Corp boosted its stake in shares of Treace Medical Concepts by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,413 shares of the company’s stock valued at $1,073,000 after purchasing an additional 18,721 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Treace Medical Concepts by 1.5% in the 4th quarter. Gabelli Funds LLC now owns 143,359 shares of the company’s stock worth $1,828,000 after purchasing an additional 2,107 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its position in shares of Treace Medical Concepts by 11.4% during the 1st quarter. Oak Ridge Investments LLC now owns 126,221 shares of the company’s stock worth $1,647,000 after purchasing an additional 12,914 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group raised 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. Morgan Stanley lifted their price objective on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Truist Financial decreased their target price on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Treace Medical Concepts has a consensus rating of “Hold” and an average target price of $7.30.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $5.34 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $15.98. The company’s 50-day moving average is $5.94 and its two-hundred day moving average is $7.54.

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

Insider Buying and Selling at Treace Medical Concepts

In related news, CEO John T. Treace purchased 85,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $6.00 per share, with a total value of $510,000.00. Following the purchase, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO John T. Treace acquired 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the acquisition, the chief executive officer now owns 6,473,095 shares in the company, valued at $38,838,570. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John T. Treace bought 50,000 shares of the stock in a transaction on Monday, September 16th. The stock was purchased at an average cost of $5.31 per share, with a total value of $265,500.00. Following the purchase, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 219,000 shares of company stock valued at $1,276,140. 24.43% of the stock is currently owned by company 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.