Treace Medical Concepts, Inc. (NASDAQ:TMCI) Position Reduced by Deutsche Bank AG

Deutsche Bank AG cut its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,289,135 shares of the company's stock after selling 767,681 shares during the quarter. Deutsche Bank AG owned 2.07% of Treace Medical Concepts worth $9,591,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its stake in Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company's stock valued at $460,000 after buying an additional 62,073 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth approximately $342,000. Norges Bank purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth approximately $490,000. Rhumbline Advisers lifted its position in shares of Treace Medical Concepts by 2.0% in the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company's stock worth $492,000 after purchasing an additional 1,300 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Treace Medical Concepts by 22.9% in the fourth 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 in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction that occurred 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 owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 27.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TMCI. Truist Financial reduced their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group reduced their price target on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, BTIG Research raised shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.16.

Treace Medical Concepts Trading Down 0.4%

NASDAQ:TMCI opened at $6.72 on Friday. The stock's 50 day moving average price is $7.40 and its 200 day moving average price is $8.01. Treace Medical Concepts, Inc. has a 52 week low of $4.54 and a 52 week high of $10.79. The company has a market capitalization of $422.62 million, a P/E ratio of -6.79 and a beta of 0.79. 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 (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The firm had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.07 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

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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