79,352 Shares in Treace Medical Concepts, Inc. (NASDAQ:TMCI) Purchased by BNP Paribas Financial Markets

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Treace Medical Concepts during the fourth quarter valued at approximately $69,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $77,000. Boothbay Fund Management LLC acquired a new stake in shares of Treace Medical Concepts in the 4th quarter valued at approximately $90,000. AlphaQuest LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter valued at $91,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Treace Medical Concepts by 22.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company's stock valued at $142,000 after buying an additional 3,452 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Stock Performance

Shares of TMCI traded up $0.21 during trading hours on Tuesday, hitting $6.09. The company had a trading volume of 455,135 shares, compared to its average volume of 607,210. The business has a fifty day moving average of $7.18 and a 200-day moving average of $8.04. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm has a market cap of $383.00 million, a price-to-earnings ratio of -6.15 and a beta of 0.79. Treace Medical Concepts, Inc. has a 12 month low of $4.54 and a 12 month high of $10.79.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Treace Medical Concepts

In related news, insider Sean F. Scanlan sold 50,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 27.72% of the stock is owned by corporate insiders.

Treace Medical Concepts Company 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.