Raymond James Financial Inc. Invests $392,000 in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Raymond James Financial Inc. purchased a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 52,742 shares of the company's stock, valued at approximately $392,000. Raymond James Financial Inc. owned approximately 0.08% of Treace Medical Concepts as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Treace Medical Concepts during the 4th quarter worth about $69,000. Dynamic Technology Lab Private Ltd bought a new position in Treace Medical Concepts during the fourth quarter valued at about $77,000. AlphaQuest LLC acquired a new position in Treace Medical Concepts in the 4th quarter valued at approximately $91,000. Fox Run Management L.L.C. raised its holdings in Treace Medical Concepts by 54.0% in the 4th quarter. Fox Run Management L.L.C. now owns 20,073 shares of the company's stock valued at $149,000 after acquiring an additional 7,040 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its position in shares of Treace Medical Concepts by 71.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 22,259 shares of the company's stock worth $166,000 after acquiring an additional 9,263 shares during the period. Institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI traded down $0.22 on Tuesday, hitting $6.98. The stock had a trading volume of 758,317 shares, compared to its average volume of 668,594. The firm's 50 day moving average price is $7.53 and its 200-day moving average price is $8.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a twelve month low of $4.29 and a twelve month high of $10.79. The company has a market capitalization of $438.97 million, a price-to-earnings ratio of -7.05 and a beta of 0.79.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $52.07 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

TMCI has been the subject of a number of recent research reports. BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Tuesday, February 4th. Truist Financial dropped 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 research note on Friday, April 11th. Finally, UBS Group decreased their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Hold" and an average price target of $10.16.

Insiders Place Their Bets

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the transaction, the insider now directly owns 364,081 shares in the company, valued at approximately $2,901,725.57. This trade represents a 12.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.