522,900 Shares in Treace Medical Concepts, Inc. $TMCI Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies purchased 522,900 shares of Treace Medical Concepts, valued at approximately $701,000, giving it a 0.81% stake. Hedge funds and other institutions collectively own 84.08% of the company.
• Treace reported quarterly revenue of $45.38 million and a loss of $0.24 per share, beating analyst expectations of $44.02 million in revenue and a $0.30 per-share loss.
• Analyst sentiment remains cautious: the stock has an average rating of “Reduce”, with a consensus price target of $5.17, despite recent upgrades and a target increase from Truist Financial.

Renaissance Technologies LLC bought a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 522,900 shares of the company's stock, valued at approximately $701,000. Renaissance Technologies LLC owned 0.81% of Treace Medical Concepts at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in Treace Medical Concepts by 18.6% in the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company's stock worth $88,000 after purchasing an additional 2,362 shares during the period. Osaic Holdings Inc. raised its position in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock valued at $28,000 after buying an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company's stock valued at $5,688,000 after buying an additional 3,677 shares during the last quarter. Barclays PLC lifted its holdings in shares of Treace Medical Concepts by 7.4% in the fourth quarter. Barclays PLC now owns 87,664 shares of the company's stock worth $215,000 after buying an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Treace Medical Concepts by 26.8% in the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock worth $40,000 after buying an additional 6,554 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $4.79 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The firm has a market capitalization of $311.54 million, a price-to-earnings ratio of -5.15 and a beta of 1.37. The company has a fifty day moving average of $4.30 and a two-hundred day moving average of $2.82.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. The firm had revenue of $45.38 million during the quarter, compared to analysts' expectations of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. On average, analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 22,887 shares of the company's stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $92,463.48. Following the completion of the transaction, the chief executive officer directly owned 7,376,150 shares of the company's stock, valued at approximately $29,799,646. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 217,837 shares of company stock valued at $729,134 over the last ninety days. 23.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Truist Financial boosted their price target on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded Treace Medical Concepts from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Treace Medical Concepts has an average rating of "Reduce" and an average price target of $5.17.

Treace Medical Concepts Profile

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.

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