Point72 Asset Management L.P. Invests $1.41 Million in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Point72 Asset Management L.P. purchased a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 190,100 shares of the company's stock, valued at approximately $1,414,000. Point72 Asset Management L.P. owned approximately 0.31% of Treace Medical Concepts at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC increased its position in shares of Treace Medical Concepts by 22.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company's stock worth $21,865,000 after purchasing an additional 546,787 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Treace Medical Concepts by 56.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company's stock worth $14,711,000 after purchasing an additional 714,984 shares in the last quarter. Geode Capital Management LLC increased its holdings in Treace Medical Concepts by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company's stock valued at $7,909,000 after buying an additional 22,159 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Treace Medical Concepts by 11.4% during the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company's stock valued at $3,518,000 after buying an additional 48,525 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Treace Medical Concepts by 2.3% during the 4th quarter. Northern Trust Corp now owns 468,894 shares of the company's stock worth $3,489,000 after buying an additional 10,711 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMCI. BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a report on Tuesday, February 4th. Truist Financial decreased 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 report on Friday, April 11th. Finally, UBS Group lowered their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a research note on Friday, May 9th. Five investment 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 a consensus rating of "Hold" and a consensus price target of $10.16.

Treace Medical Concepts Trading Down 6.0%

Shares of NASDAQ TMCI opened at $6.29 on Thursday. Treace Medical Concepts, Inc. has a 12-month low of $4.54 and a 12-month high of $10.79. The company has a market cap of $395.58 million, a price-to-earnings ratio of -6.35 and a beta of 0.79. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock's 50 day simple moving average is $7.31 and its 200 day simple moving average is $8.05.

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

Insider Buying and Selling

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 364,081 shares of the company's stock, 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 at this hyperlink. Corporate insiders own 27.72% of the company's stock.

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.

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