Charles Schwab Investment Management Inc. Acquires 17,783 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Charles Schwab Investment Management Inc. increased its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,033 shares of the company’s stock after acquiring an additional 17,783 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of Treace Medical Concepts worth $2,268,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TMCI. Nisa Investment Advisors LLC boosted its position in shares of Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after acquiring an additional 9,245 shares during the period. CWM LLC boosted its position in shares of Treace Medical Concepts by 208.7% in the second quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after acquiring an additional 6,826 shares during the period. Palumbo Wealth Management LLC bought a new position in shares of Treace Medical Concepts in the third quarter valued at approximately $75,000. Stoneridge Investment Partners LLC bought a new position in shares of Treace Medical Concepts in the third quarter valued at approximately $98,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Treace Medical Concepts by 59.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock valued at $111,000 after acquiring an additional 6,227 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Trading Down 1.7 %

NASDAQ:TMCI opened at $7.50 on Monday. The company has a fifty day moving average of $6.74 and a 200 day moving average of $6.44. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $15.98. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $467.25 million, a P/E ratio of -7.58 and a beta of 0.66.

Treace Medical Concepts (NASDAQ:TMCI) last posted 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. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company had revenue of $45.09 million during the quarter, compared to analyst estimates of $43.48 million. During the same period in the prior year, the business posted ($0.28) EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, research analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Truist Financial dropped 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 report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

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.