Stoneridge Investment Partners LLC Makes New Investment in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Stoneridge Investment Partners LLC purchased a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,852 shares of the company’s stock, valued at approximately $98,000.

Several other large investors have also modified their holdings of TMCI. Armistice Capital LLC increased its holdings in Treace Medical Concepts by 123.3% during the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after buying an additional 2,960,000 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock valued at $24,483,000 after acquiring an additional 1,352,207 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Treace Medical Concepts in the 2nd quarter worth $2,412,000. Acadian Asset Management LLC purchased a new stake in shares of Treace Medical Concepts during the 2nd quarter worth $2,247,000. Finally, Marshall Wace LLP boosted its position in Treace Medical Concepts by 65.9% during the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after purchasing an additional 183,921 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TMCI shares. Truist Financial reduced their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a report on Monday, October 14th. UBS Group boosted their price objective on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley raised their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Insider Buying and Selling

In other news, CEO John T. Treace acquired 50,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $5.31 per share, with a total value of $265,500.00. Following the completion of the acquisition, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Treace Medical Concepts news, Director James T. Treace purchased 84,000 shares of the stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $5.96 per share, with a total value of $500,640.00. Following the completion of the acquisition, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John T. Treace purchased 50,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were bought at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 219,000 shares of company stock worth $1,276,140 in the last 90 days. Insiders own 24.43% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of Treace Medical Concepts stock opened at $5.43 on Tuesday. The company has a 50 day moving average price of $5.36 and a 200 day moving average price of $6.41. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company had revenue of $44.46 million during the quarter, compared to analysts’ expectations of $43.00 million. During the same period in the prior year, the business posted ($0.20) EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Treace Medical Concepts, Inc. will post -0.93 earnings per share for the current fiscal year.

Treace Medical Concepts Company 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.