Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,200 shares of the company's stock after purchasing an additional 56,445 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.44% of Treace Medical Concepts worth $2,040,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TMCI. Barclays PLC grew its holdings in shares of Treace Medical Concepts by 352.2% during the 3rd 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 period. JPMorgan Chase & Co. lifted its position in Treace Medical Concepts by 215.1% during the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company's stock valued at $7,321,000 after buying an additional 861,689 shares in the last quarter. Ballentine Partners LLC grew its stake in Treace Medical Concepts by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company's stock worth $186,000 after buying an additional 2,314 shares during the period. SG Americas Securities LLC increased its position in shares of Treace Medical Concepts by 20.4% in the fourth quarter. SG Americas Securities LLC now owns 28,404 shares of the company's stock worth $211,000 after acquiring an additional 4,813 shares in the last quarter. Finally, Rhumbline Advisers increased 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 acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

Analyst Upgrades and Downgrades

TMCI has been the topic of several recent research reports. UBS Group reduced 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 report on Friday. Truist Financial reduced 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. Finally, 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. 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, Treace Medical Concepts presently has an average rating of "Hold" and a consensus price target of $10.16.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 50,000 shares of the company's stock in a transaction dated 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 owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.72% of the stock is owned by company insiders.

Treace Medical Concepts Stock Performance

Shares of TMCI stock opened at $7.20 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The company's fifty day moving average price is $7.53 and its two-hundred day moving average price is $8.00. The firm has a market capitalization of $452.81 million, a P/E ratio of -7.27 and a beta of 0.79. Treace Medical Concepts, Inc. has a 12 month low of $4.29 and a 12 month high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to analysts' expectations 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 company's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. On average, research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Treace Medical Concepts Profile

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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