Wealth Enhancement Advisory Services LLC Sells 9,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,062 shares of the company’s stock after selling 9,000 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.39% of Treace Medical Concepts worth $3,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in Treace Medical Concepts in the 4th quarter valued at $68,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Treace Medical Concepts by 100.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after purchasing an additional 3,567 shares during the last quarter. Trexquant Investment LP purchased a new position in Treace Medical Concepts in the 4th quarter worth about $132,000. Spouting Rock Asset Management LLC bought a new stake in Treace Medical Concepts during the 3rd quarter valued at about $148,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Treace Medical Concepts in the 4th quarter valued at about $163,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Insider Buying and Selling at Treace Medical Concepts

In related news, Director Richard W. Mott acquired 36,802 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the acquisition, the director now directly owns 1,027,753 shares in the company, valued at approximately $4,501,558.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director James T. Treace acquired 25,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $6.05 per share, with a total value of $151,250.00. Following the completion of the acquisition, the director now owns 1,139,441 shares of the company’s stock, valued at $6,893,618.05. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard W. Mott bought 36,802 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $4.38 per share, with a total value of $161,192.76. Following the acquisition, the director now directly owns 1,027,753 shares of the company’s stock, valued at $4,501,558.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 593,902 shares of company stock worth $2,930,422. 24.43% of the stock is owned by insiders.

Treace Medical Concepts Trading Down 0.3 %

NASDAQ TMCI opened at $6.61 on Thursday. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $25.22. The company has a 50 day moving average price of $6.67 and a 200 day moving average price of $10.72. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.42. The firm has a market cap of $409.87 million, a PE ratio of -7.51 and a beta of 0.22.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.30). The business had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TMCI. Stifel Nicolaus downgraded shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $6.00 in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a report on Wednesday, May 8th. Morgan Stanley downgraded Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $5.50 in a report on Wednesday, May 8th. Truist Financial cut shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $17.00 to $7.00 in a report on Wednesday, May 8th. Finally, UBS Group lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $6.50 in a report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.21.

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.