Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,923 shares of the company's stock, valued at approximately $342,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Treace Medical Concepts as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in shares of Treace Medical Concepts during the third quarter worth $118,000. Charles Schwab Investment Management Inc. raised its holdings in Treace Medical Concepts by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company's stock worth $2,268,000 after buying an additional 17,783 shares during the period. FMR LLC lifted its stake in Treace Medical Concepts by 228.5% during the third quarter. FMR LLC now owns 78,135 shares of the company's stock valued at $453,000 after buying an additional 54,353 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Treace Medical Concepts in the third quarter worth about $75,000. Finally, Verition Fund Management LLC increased its position in shares of Treace Medical Concepts by 10.6% in the third quarter. Verition Fund Management LLC now owns 88,370 shares of the company's stock worth $513,000 after acquiring an additional 8,468 shares in the last quarter. 84.08% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now owns 364,081 shares of the company's stock, valued at $2,901,725.57. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.43% of the company's stock.
Treace Medical Concepts Stock Down 2.4 %
Shares of NASDAQ TMCI traded down $0.21 during trading hours on Thursday, hitting $8.37. The stock had a trading volume of 229,085 shares, compared to its average volume of 727,772. The firm's 50-day moving average price is $9.24 and its two-hundred day moving average price is $7.53. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $13.24. The company has a market capitalization of $524.12 million, a P/E ratio of -8.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. BTIG Research raised shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital started coverage on Treace Medical Concepts in a research report on Tuesday, December 31st. They set a "buy" rating and a $14.50 price objective for the company. Finally, Truist Financial dropped their target price on Treace Medical Concepts from $10.00 to $9.50 and set a "hold" rating on the stock in a report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $10.14.
View Our Latest Analysis on TMCI
About Treace Medical Concepts
(
Free Report)
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.
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