Bleakley Financial Group LLC Reduces Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Bleakley Financial Group LLC cut its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 52.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,469 shares of the company’s stock after selling 11,673 shares during the quarter. Bleakley Financial Group LLC’s holdings in Treace Medical Concepts were worth $78,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $38,000. HighTower Advisors LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter worth $58,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Treace Medical Concepts by 243.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after purchasing an additional 7,522 shares during the period. Wolverine Trading LLC raised its position in shares of Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after purchasing an additional 1,946 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Treace Medical Concepts during the third quarter worth $75,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, February 4th. Truist Financial upped their price target on 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 Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Lake Street Capital assumed coverage on Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.99.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $9.82 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The stock’s 50-day simple moving average is $8.39 and its 200 day simple moving average is $6.97. The company has a market cap of $611.79 million, a P/E ratio of -9.92 and a beta of 0.75. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $15.97.

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.