Bank of New York Mellon Corp Has $937,000 Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Bank of New York Mellon Corp boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,945 shares of the company’s stock after acquiring an additional 3,215 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of Treace Medical Concepts worth $937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in Treace Medical Concepts by 215.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after buying an additional 861,689 shares during the period. Barclays PLC raised its position in shares of Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after acquiring an additional 62,073 shares during the last quarter. FMR LLC lifted its stake in shares of Treace Medical Concepts by 228.5% in the third quarter. FMR LLC now owns 78,135 shares of the company’s stock worth $453,000 after acquiring an additional 54,353 shares during the period. State Street Corp boosted its holdings in Treace Medical Concepts by 4.2% in the third 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 during the last quarter. Finally, Franklin Resources Inc. bought a new stake in Treace Medical Concepts in the third quarter valued at approximately $212,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Down 2.2 %

Shares of NASDAQ TMCI opened at $8.50 on Wednesday. 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 cap of $532.26 million, a PE ratio of -8.59 and a beta of 0.77. The company’s fifty day simple moving average is $9.24 and its 200 day simple moving average is $7.53. Treace Medical Concepts, Inc. has a 12-month low of $3.92 and a 12-month high of $13.24.

Insider Activity

In other news, insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This trade represents a 12.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 24.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price on the stock. Truist Financial decreased their price target on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a report on Thursday, March 13th. Finally, BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.14.

About Treace Medical Concepts

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.