BNP Paribas Financial Markets Buys New Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

BNP Paribas Financial Markets acquired a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 79,352 shares of the company's stock, valued at approximately $590,000. BNP Paribas Financial Markets owned approximately 0.13% of Treace Medical Concepts at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TMCI. Quantbot Technologies LP acquired a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $69,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $77,000. Boothbay Fund Management LLC acquired a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $90,000. AlphaQuest LLC acquired a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $91,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Treace Medical Concepts by 22.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company's stock worth $142,000 after acquiring an additional 3,452 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on TMCI shares. BTIG Research raised Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Truist Financial dropped their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.16.

Treace Medical Concepts Trading Down 3.9%

Shares of Treace Medical Concepts stock traded down $0.24 on Wednesday, hitting $5.85. 440,500 shares of the company's stock traded hands, compared to its average volume of 607,200. The firm's 50-day moving average price is $7.14 and its two-hundred day moving average price is $8.03. The stock has a market capitalization of $368.03 million, a PE ratio of -5.84 and a beta of 0.79. Treace Medical Concepts, Inc. has a one year low of $4.54 and a one year high of $10.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business had revenue of $52.57 million during the quarter, compared to analysts' expectations of $52.07 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 27.72% of the stock is owned by corporate insiders.

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.