Rhumbline Advisers Grows Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Rhumbline Advisers lifted its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,073 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Treace Medical Concepts worth $492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TMCI. JPMorgan Chase & Co. grew its position 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 valued at $7,321,000 after purchasing an additional 861,689 shares during the last quarter. Barclays PLC grew its position in Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after purchasing an additional 62,073 shares during the last quarter. FMR LLC lifted its stake in Treace Medical Concepts by 228.5% during the 3rd quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after acquiring an additional 54,353 shares during the period. State Street Corp lifted 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 during the period. Finally, Franklin Resources Inc. bought a new position in Treace Medical Concepts during the 3rd quarter valued at about $212,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $8.57 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. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $13.27. The company’s 50 day moving average is $9.09 and its two-hundred day moving average is $7.33. The stock has a market cap of $536.64 million, a price-to-earnings ratio of -8.66 and a beta of 0.77.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Truist Financial increased their price objective on shares of Treace Medical Concepts from $8.40 to $10.00 and gave the stock a “hold” rating in a research note on Monday, March 3rd. Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price on the stock. Finally, BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.21.

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.