Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,393 shares of the company's stock after selling 161,525 shares during the period. Kornitzer Capital Management Inc. KS owned 0.58% of Treace Medical Concepts worth $3,066,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Treace Medical Concepts during the 4th quarter worth about $69,000. CWM LLC increased its stake in shares of Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company's stock worth $73,000 after acquiring an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Treace Medical Concepts during the fourth quarter worth about $77,000. Bayesian Capital Management LP acquired a new position in Treace Medical Concepts in the 4th quarter valued at about $77,000. Finally, GAMMA Investing LLC grew its position in Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company's stock valued at $87,000 after acquiring an additional 10,236 shares in the last quarter. Institutional investors own 84.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TMCI shares. Truist Financial lowered their price objective on 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. UBS Group lowered their price target on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Treace Medical Concepts has a consensus rating of "Hold" and a consensus price target of $10.52.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock traded down $0.14 during midday trading on Friday, hitting $5.65. 183,571 shares of the company's stock were exchanged, compared to its average volume of 486,087. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50. The stock has a market cap of $355.33 million, a price-to-earnings ratio of -6.65 and a beta of 0.69. Treace Medical Concepts, Inc. has a 12-month low of $4.54 and a 12-month high of $10.79. The firm's 50 day simple moving average is $6.01 and its 200 day simple moving average is $7.54.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 48.69% and a negative net margin of 25.14%. The firm had revenue of $52.57 million for the quarter, compared to analysts' expectations of $52.07 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

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.