TimesSquare Capital Management LLC boosted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 22.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,749,120 shares of the company's stock after acquiring an additional 315,691 shares during the period. TimesSquare Capital Management LLC owned about 2.84% of Treace Medical Concepts worth $22,301,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TMCI. Van ECK Associates Corp grew its stake in shares of Treace Medical Concepts by 48.7% during the third quarter. Van ECK Associates Corp now owns 4,093 shares of the company's stock worth $54,000 after purchasing an additional 1,340 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Treace Medical Concepts by 20.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company's stock worth $107,000 after acquiring an additional 1,376 shares in the last quarter. Spouting Rock Asset Management LLC purchased a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $148,000. Arizona State Retirement System raised its position in shares of Treace Medical Concepts by 17.1% during the 3rd quarter. Arizona State Retirement System now owns 13,097 shares of the company's stock worth $172,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Numerai GP LLC purchased a new stake in Treace Medical Concepts during the third quarter worth approximately $217,000. 84.08% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on TMCI shares. UBS Group dropped their price target on shares of Treace Medical Concepts from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Treace Medical Concepts from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Wednesday. Stifel Nicolaus cut shares of Treace Medical Concepts from a "buy" rating to a "hold" rating and reduced their price target for the company from $15.00 to $6.00 in a research report on Wednesday. Truist Financial lowered Treace Medical Concepts from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $17.00 to $7.00 in a report on Wednesday. Finally, Morgan Stanley cut Treace Medical Concepts from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $15.00 to $5.50 in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.57.
Check Out Our Latest Research Report on TMCI
Treace Medical Concepts Stock Performance
Shares of NASDAQ TMCI traded down $6.95 during midday trading on Wednesday, reaching $4.17. 15,613,735 shares of the company were exchanged, compared to its average volume of 642,318. The stock has a fifty day simple moving average of $12.00 and a 200 day simple moving average of $11.73. The company has a current ratio of 4.40, a quick ratio of 3.76 and a debt-to-equity ratio of 0.38. The stock has a market cap of $257.54 million, a P/E ratio of -5.15 and a beta of 0.37. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $27.70.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). Treace Medical Concepts had a negative return on equity of 33.96% and a negative net margin of 26.47%. The company had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. During the same period last year, the business posted ($0.23) EPS. The company's revenue was up 21.1% on a year-over-year basis. On average, research analysts forecast that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current fiscal year.
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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