Bank of America Corp DE Has $4.31 Million Stock Holdings in Treace Medical Concepts, Inc. $TMCI

Key Points

• Bank of America increased its Treace Medical Concepts stake by 38.9% in the first quarter, adding 900,071 shares to own 3.21 million shares worth approximately $4.31 million, or 4.95% of the company.
• Institutional investors own 84.08% of TMCI, while insiders hold 23.42%; CEO John T. Treace also purchased 11,000 shares, and insiders bought 158,261 shares over the past three months.
• Treace reported quarterly revenue of $45.38 million and an adjusted loss of $0.24 per share, beating analyst estimates, but remains unprofitable. Analysts maintain a consensus “Reduce” rating with an average price target of $5.17.

Bank of America Corp DE grew its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,214,293 shares of the company's stock after purchasing an additional 900,071 shares during the period. Bank of America Corp DE owned approximately 4.95% of Treace Medical Concepts worth $4,307,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock worth $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock valued at $28,000 after purchasing an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company's stock worth $5,688,000 after purchasing an additional 3,677 shares in the last quarter. Barclays PLC increased its position in Treace Medical Concepts by 7.4% during the 4th quarter. Barclays PLC now owns 87,664 shares of the company's stock worth $215,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Treace Medical Concepts by 26.8% in the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock valued at $40,000 after purchasing an additional 6,554 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

Insider Activity at Treace Medical Concepts

In related news, CEO John T. Treace bought 11,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $4.34 per share, with a total value of $47,740.00. Following the completion of the transaction, the chief executive officer directly owned 7,404,383 shares in the company, valued at approximately $32,135,022.22. This represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased 158,261 shares of company stock valued at $635,613 over the last three months. Corporate insiders own 23.42% of the company's stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.65 on Friday. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.63. The stock's 50 day moving average is $4.41 and its 200-day moving average is $2.98. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $302.44 million, a price-to-earnings ratio of -5.00 and a beta of 1.37.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. The business had revenue of $45.38 million during the quarter, compared to analyst estimates of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TMCI shares. Wall Street Zen raised shares of Treace Medical Concepts from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Truist Financial boosted their price objective on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut Treace Medical Concepts from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th. 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. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $5.17.

About Treace Medical Concepts

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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