Legal & General Group Plc lessened its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 87.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,423 shares of the company's stock after selling 36,793 shares during the period. Legal & General Group Plc's holdings in Treace Medical Concepts were worth $40,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TMCI. Barclays PLC boosted its position in Treace Medical Concepts by 352.2% in the third quarter. Barclays PLC now owns 79,696 shares of the company's stock worth $460,000 after purchasing an additional 62,073 shares during the last quarter. Virtu Financial LLC purchased a new stake in Treace Medical Concepts during the third quarter worth about $148,000. Franklin Resources Inc. bought a new stake in Treace Medical Concepts in the third quarter worth about $212,000. JPMorgan Chase & Co. boosted its stake in Treace Medical Concepts by 215.1% in the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company's stock valued at $7,321,000 after acquiring an additional 861,689 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Treace Medical Concepts by 10.2% during the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company's stock valued at $186,000 after acquiring an additional 2,314 shares during the period. 84.08% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on TMCI shares. Truist Financial dropped their price objective on 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. BTIG Research raised Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.93.
Read Our Latest Stock Report on Treace Medical Concepts
Insider Transactions at Treace Medical Concepts
In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the 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 sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 27.72% of the company's stock.
Treace Medical Concepts Stock Performance
Shares of TMCI opened at $7.34 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The stock has a market capitalization of $461.61 million, a price-to-earnings ratio of -7.41 and a beta of 0.77. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $11.33. The stock's 50-day simple moving average is $7.80 and its 200 day simple moving average is $7.86.
Treace Medical Concepts Profile
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Free Report)
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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