Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,761 shares of the company’s stock after selling 6,108 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of Treace Medical Concepts worth $735,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter worth $2,247,000. Lighthouse Investment Partners LLC purchased a new stake in Treace Medical Concepts during the second quarter valued at about $1,114,000. Point72 Asset Management L.P. acquired a new stake in Treace Medical Concepts during the second quarter worth about $2,412,000. Nisa Investment Advisors LLC increased its stake in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after acquiring an additional 9,245 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Treace Medical Concepts by 11.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock worth $135,000 after purchasing an additional 2,160 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 0.6 %

NASDAQ TMCI opened at $6.90 on Friday. The company’s fifty day simple moving average is $6.91 and its 200-day simple moving average is $6.47. The stock has a market cap of $429.85 million, a P/E ratio of -6.97 and a beta of 0.66. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $15.98. 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 posted its quarterly earnings data 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. 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 net margin of 30.33% and a negative return on equity of 51.12%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) EPS. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TMCI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday. Truist Financial raised 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 note on Wednesday. Finally, Stifel Nicolaus lifted their target price 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. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.88.

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.