Barclays PLC Raises Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Barclays PLC lifted its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 352.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,696 shares of the company’s stock after purchasing an additional 62,073 shares during the quarter. Barclays PLC owned about 0.13% of Treace Medical Concepts worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Treace Medical Concepts by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,413 shares of the company’s stock valued at $1,073,000 after buying an additional 18,721 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $111,000 after acquiring an additional 6,227 shares in the last quarter. Rhumbline Advisers lifted its holdings in Treace Medical Concepts by 50.8% in the second quarter. Rhumbline Advisers now owns 92,849 shares of the company’s stock valued at $617,000 after acquiring an additional 31,281 shares during the period. Acadian Asset Management LLC purchased a new stake in Treace Medical Concepts in the 2nd quarter worth approximately $2,247,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter worth approximately $123,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TMCI. JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a report on Tuesday. They issued a “buy” rating and a $14.50 price target for the company. Stifel Nicolaus increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial boosted their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.98.

Treace Medical Concepts Price Performance

TMCI opened at $7.90 on Friday. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a market cap of $492.15 million, a price-to-earnings ratio of -7.98 and a beta of 0.66. The stock’s 50-day moving average price is $7.35 and its 200 day moving average price is $6.57. Treace Medical Concepts, Inc. has a 12-month low of $3.92 and a 12-month high of $15.98.

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

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.