Intech Investment Management LLC Invests $118,000 in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Intech Investment Management LLC bought a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,317 shares of the company’s stock, valued at approximately $118,000.

A number of other hedge funds also recently modified their holdings of the stock. Stoneridge Investment Partners LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $98,000. Palumbo Wealth Management LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $75,000. Ballentine Partners LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $132,000. SG Americas Securities LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $137,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter worth about $2,412,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TMCI. Truist Financial cut their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Stifel Nicolaus lifted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Treace Medical Concepts presently has an average rating of “Hold” and an average target price of $7.40.

Treace Medical Concepts Price Performance

TMCI stock opened at $7.93 on Friday. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $15.98. The company’s 50-day moving average price is $6.51 and its two-hundred day moving average price is $6.33. The firm has a market cap of $494.04 million, a P/E ratio of -8.01 and a beta of 0.66.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $45.09 million during the quarter, compared to analyst estimates of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. Treace Medical Concepts’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) EPS. On average, analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace purchased 50,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $5.31 per share, for a total transaction of $265,500.00. Following the purchase, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. This trade represents a 0.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 24.43% of the stock is currently owned by company insiders.

Treace Medical Concepts Company 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.