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

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

A number of other hedge funds have also recently added to or reduced their stakes in TMCI. Armistice Capital LLC increased its holdings in Treace Medical Concepts by 123.3% in 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 in the last quarter. William Blair Investment Management LLC grew its position in shares of Treace Medical Concepts by 58.0% during 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. purchased a new position in shares of Treace Medical Concepts in the 2nd quarter valued at about $2,412,000. Acadian Asset Management LLC acquired a new position in Treace Medical Concepts in the 2nd quarter worth about $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 worth $3,079,000 after purchasing an additional 183,921 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Up 13.6 %

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

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

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 50,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO John T. Treace purchased 50,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was acquired 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John T. Treace acquired 85,000 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $6.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 219,000 shares of company stock valued at $1,276,140. Corporate insiders own 24.43% of the company’s stock.

Analysts Set New Price Targets

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

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.