Charles Schwab Investment Management Inc. cut its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 349,510 shares of the company's stock after selling 41,523 shares during the period. Charles Schwab Investment Management Inc. owned about 0.56% of Treace Medical Concepts worth $2,600,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of TMCI. Intech Investment Management LLC acquired a new stake in Treace Medical Concepts in the third quarter valued at about $118,000. FMR LLC lifted its holdings in shares of Treace Medical Concepts by 228.5% in the third quarter. FMR LLC now owns 78,135 shares of the company's stock worth $453,000 after acquiring an additional 54,353 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $75,000. Verition Fund Management LLC grew its holdings in shares of Treace Medical Concepts by 10.6% during the 3rd quarter. Verition Fund Management LLC now owns 88,370 shares of the company's stock valued at $513,000 after purchasing an additional 8,468 shares during the last quarter. Finally, PDT Partners LLC increased its position in Treace Medical Concepts by 95.5% during the 3rd quarter. PDT Partners LLC now owns 63,949 shares of the company's stock worth $371,000 after purchasing an additional 31,235 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on TMCI shares. Truist Financial cut their target price on shares of Treace Medical Concepts from $10.00 to $9.50 and set a "hold" rating on the stock in a research report on Thursday, March 13th. 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 on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, BTIG Research raised Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $10.14.
View Our Latest Stock Report on TMCI
Treace Medical Concepts Trading Down 0.7 %
Shares of NASDAQ TMCI traded down $0.06 during trading on Monday, reaching $8.39. The company had a trading volume of 298,611 shares, compared to its average volume of 742,789. The stock has a market cap of $525.37 million, a P/E ratio of -8.47 and a beta of 0.77. The company's fifty day moving average price is $9.23 and its 200-day moving average price is $7.62. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $13.24.
Insider Activity at Treace Medical Concepts
In other news, insider Sean F. Scanlan sold 50,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $2,901,725.57. This represents a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 24.43% of the stock is currently owned by company insiders.
Treace Medical Concepts Profile
(
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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