JPMorgan Chase & Co. raised its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 56.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,977,219 shares of the company's stock after acquiring an additional 714,984 shares during the period. JPMorgan Chase & Co. owned approximately 3.17% of Treace Medical Concepts worth $14,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Treace Medical Concepts by 2.0% in the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company's stock worth $492,000 after buying an additional 1,300 shares in the last quarter. Wolverine Trading LLC increased its stake in 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 acquiring an additional 1,946 shares during the last quarter. Ballentine Partners LLC raised its position in Treace Medical Concepts by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company's stock valued at $186,000 after purchasing an additional 2,314 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Treace Medical Concepts by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company's stock valued at $937,000 after purchasing an additional 3,215 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Treace Medical Concepts by 20.4% in the 4th quarter. SG Americas Securities LLC now owns 28,404 shares of the company's stock worth $211,000 after purchasing an additional 4,813 shares during the period. 84.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Tuesday, February 4th. Truist Financial decreased their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research note on Friday. JPMorgan Chase & Co. restated a "neutral" rating and set a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a "buy" rating and a $14.50 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $9.93.
Check Out Our Latest Analysis on Treace Medical Concepts
Treace Medical Concepts Stock Down 2.1 %
NASDAQ:TMCI traded down $0.14 during trading hours on Tuesday, reaching $6.62. The company's stock had a trading volume of 300,351 shares, compared to its average volume of 746,112. The stock has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $7.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The company has a market capitalization of $416.33 million, a P/E ratio of -6.69 and a beta of 0.77. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $11.95.
Insider Buying and Selling
In other news, insider Sean F. Scanlan sold 50,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the sale, the insider now directly owns 364,081 shares in the company, valued at approximately $2,901,725.57. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.43% of the stock is currently owned by company insiders.
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.
See Also
Before you consider Treace Medical Concepts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Treace Medical Concepts wasn't on the list.
While Treace Medical Concepts currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
