10,003 Shares in Treace Medical Concepts, Inc. (NASDAQ:TMCI) Acquired by HighTower Advisors LLC

HighTower Advisors LLC bought a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,003 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds have also added to or reduced their stakes in TMCI. The Manufacturers Life Insurance Company grew its position in Treace Medical Concepts by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock valued at $135,000 after acquiring an additional 2,160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Treace Medical Concepts by 59.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock worth $111,000 after buying an additional 6,227 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Treace Medical Concepts by 243.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after purchasing an additional 7,522 shares during the period. Verition Fund Management LLC lifted its stake in Treace Medical Concepts by 10.6% in the third quarter. Verition Fund Management LLC now owns 88,370 shares of the company’s stock valued at $513,000 after buying an additional 8,468 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Treace Medical Concepts during the 3rd quarter worth approximately $75,000. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $7.08 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The firm’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $6.51. The stock has a market cap of $441.06 million, a price-to-earnings ratio of -7.15 and a beta of 0.66. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $15.98.

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

Analysts Set New Price Targets

TMCI has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus increased their price target on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Treace Medical Concepts presently has a consensus rating of “Hold” and an average price target of $7.88.

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.