167,500 Shares in Treace Medical Concepts, Inc. (NASDAQ:TMCI) Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 167,500 shares of the company's stock, valued at approximately $1,114,000. Lighthouse Investment Partners LLC owned 0.27% of Treace Medical Concepts at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Treace Medical Concepts by 3,441.2% during the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company's stock worth $31,000 after acquiring an additional 4,508 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company's stock valued at $62,000 after purchasing an additional 9,245 shares in the last quarter. CWM LLC increased its position in Treace Medical Concepts by 208.7% during the 2nd quarter. CWM LLC now owns 10,097 shares of the company's stock worth $67,000 after purchasing an additional 6,826 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of Treace Medical Concepts by 100.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company's stock worth $91,000 after buying an additional 3,567 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Treace Medical Concepts by 59.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company's stock valued at $111,000 after buying an additional 6,227 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Morgan Stanley upped their price target on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an "equal weight" rating in a research note on Monday, July 15th. Finally, Truist Financial reduced their price objective on shares of Treace Medical Concepts from $9.00 to $7.50 and set a "hold" rating for the company in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Treace Medical Concepts has an average rating of "Hold" and an average target price of $7.30.

Treace Medical Concepts Price Performance

TMCI stock traded down $0.03 during midday trading on Friday, hitting $5.77. 632,633 shares of the stock were exchanged, compared to its average volume of 869,343. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. The stock has a market cap of $357.79 million, a price-to-earnings ratio of -6.56 and a beta of 0.21. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $15.98. The stock's 50-day moving average price is $6.14 and its 200-day moving average price is $7.70.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) EPS. Research analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Treace Medical Concepts

In related news, Director James T. Treace bought 84,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the acquisition, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James T. Treace bought 84,000 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $5.96 per share, with a total value of $500,640.00. Following the purchase, the director now owns 1,223,441 shares of the company's stock, valued at approximately $7,291,708.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John T. Treace bought 50,000 shares of Treace Medical Concepts stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the acquisition, the chief executive officer now owns 6,523,095 shares in the company, valued at approximately $34,637,634.45. The disclosure for this purchase can be found here. Insiders have acquired 219,000 shares of company stock valued at $1,276,140 over the last quarter. Corporate insiders own 24.43% of the company's stock.

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.