Treace Medical Concepts, Inc. (NASDAQ:TMCI) Position Reduced by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,040,606 shares of the company’s stock after selling 21,413 shares during the period. Geode Capital Management LLC owned 1.67% of Treace Medical Concepts worth $6,037,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Treace Medical Concepts by 352.2% in the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after buying an additional 62,073 shares during the period. Wolverine Trading LLC boosted its position in Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after acquiring an additional 1,946 shares during the period. State Street Corp grew its stake in Treace Medical Concepts by 4.2% during the 3rd quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after acquiring an additional 39,907 shares in the last quarter. Quarry LP acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $38,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts in the third quarter worth approximately $58,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TMCI has been the topic of a number of research analyst reports. Truist Financial boosted their price objective 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. Stifel Nicolaus upped their price target 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, Lake Street Capital initiated coverage on Treace Medical Concepts in a research note on Tuesday. They issued a “buy” rating and a $14.50 target price on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.98.

Treace Medical Concepts Stock Up 0.4 %

TMCI stock opened at $7.90 on Friday. The firm has a market cap of $492.15 million, a PE ratio of -7.98 and a beta of 0.66. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $15.98. The company has a fifty day simple moving average of $7.35 and a 200 day simple moving average of $6.57. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

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

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.