The Manufacturers Life Insurance Company Boosts Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

The Manufacturers Life Insurance Company grew its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,252 shares of the company’s stock after buying an additional 2,160 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Treace Medical Concepts were worth $135,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Armistice Capital LLC grew its stake in Treace Medical Concepts by 123.3% in the 2nd quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after acquiring an additional 2,960,000 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Treace Medical Concepts by 58.0% in the second quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after acquiring an additional 1,352,207 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Treace Medical Concepts in the second quarter valued at $2,247,000. Marshall Wace LLP lifted its position in shares of Treace Medical Concepts by 65.9% in the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after acquiring an additional 183,921 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Treace Medical Concepts by 300.6% during the second quarter. Squarepoint Ops LLC now owns 118,047 shares of the company’s stock valued at $785,000 after acquiring an additional 88,577 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

TMCI has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Morgan Stanley upped their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, UBS Group increased their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Hold” and a consensus price target of $7.00.

Insider Buying and Selling at Treace Medical Concepts

In other news, Director James T. Treace acquired 84,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the purchase, the director now directly owns 1,223,441 shares of the company’s stock, valued at $7,291,708.36. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Treace Medical Concepts news, CEO John T. Treace acquired 85,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now directly owns 6,473,095 shares in the company, valued at approximately $38,838,570. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James T. Treace acquired 84,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the purchase, the director now owns 1,223,441 shares of the company’s stock, valued at $7,291,708.36. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 219,000 shares of company stock worth $1,276,140 in the last ninety days. 24.43% of the stock is owned by insiders.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $5.34 on Friday. The company has a market cap of $331.12 million, a P/E ratio of -6.07 and a beta of 0.20. Treace Medical Concepts, Inc. has a one year low of $3.92 and a one year high of $15.98. The business’s 50-day simple moving average is $5.61 and its 200 day simple moving average is $7.00. 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 (NASDAQ:TMCI) last announced 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). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.93 earnings per share for the current fiscal year.

About Treace Medical Concepts

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.