Nuveen Asset Management LLC Has $3.52 Million Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Nuveen Asset Management LLC increased its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,840 shares of the company's stock after buying an additional 48,525 shares during the period. Nuveen Asset Management LLC owned about 0.76% of Treace Medical Concepts worth $3,518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TMCI. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Treace Medical Concepts by 25.9% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,200 shares of the company's stock worth $2,040,000 after buying an additional 56,445 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Treace Medical Concepts by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company's stock worth $208,000 after acquiring an additional 1,216 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $100,000. Bayesian Capital Management LP bought a new stake in Treace Medical Concepts in the 4th quarter valued at about $77,000. Finally, Bank of America Corp DE lifted its position in Treace Medical Concepts by 71.1% in the 4th quarter. Bank of America Corp DE now owns 144,068 shares of the company's stock valued at $1,072,000 after purchasing an additional 59,848 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI traded up $0.07 during midday trading on Tuesday, reaching $5.81. The stock had a trading volume of 386,882 shares, compared to its average volume of 592,413. The stock has a market capitalization of $365.39 million, a P/E ratio of -5.87 and a beta of 0.79. Treace Medical Concepts, Inc. has a 1-year low of $4.54 and a 1-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. The firm's fifty day simple moving average is $6.92 and its 200-day simple moving average is $7.97.

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 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 firm had revenue of $52.57 million during the quarter, compared to the consensus estimate of $52.07 million. During the same period in the prior year, the firm earned ($0.30) EPS. The business's revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total value 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. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 27.72% of the company's stock.

Wall Street Analyst Weigh In

TMCI has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. UBS Group decreased their price objective on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, 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 research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Hold" and an average target price of $10.16.

Treace Medical Concepts 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.