State Street Corp Raises Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

State Street Corp grew its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 997,453 shares of the company’s stock after purchasing an additional 39,907 shares during the period. State Street Corp owned approximately 1.60% of Treace Medical Concepts worth $5,785,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $38,000. HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts during the third quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Treace Medical Concepts by 243.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after buying an additional 7,522 shares in the last quarter. Palumbo Wealth Management LLC purchased a new stake in shares of Treace Medical Concepts in the third quarter valued at approximately $75,000. Finally, Walleye Capital LLC acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter worth $75,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 1.4 %

Shares of TMCI stock opened at $6.98 on Friday. The firm’s 50-day simple moving average is $7.11 and its 200-day simple moving average is $6.52. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98. 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 firm has a market cap of $434.83 million, a P/E ratio of -7.05 and a beta of 0.66.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for 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%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) EPS. As a group, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

TMCI has been the subject of a number of research analyst reports. Truist Financial increased their price target on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus upped their target price 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average 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.