William Blair Investment Management LLC Increases Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

William Blair Investment Management LLC increased its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 22.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,938,848 shares of the company's stock after purchasing an additional 546,787 shares during the quarter. William Blair Investment Management LLC owned 4.72% of Treace Medical Concepts worth $21,865,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company's stock worth $7,321,000 after purchasing an additional 861,689 shares during the period. State Street Corp raised its holdings in Treace Medical Concepts by 4.2% in the 3rd quarter. State Street Corp now owns 997,453 shares of the company's stock worth $5,785,000 after purchasing an additional 39,907 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Treace Medical Concepts by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company's stock worth $2,268,000 after purchasing an additional 17,783 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 worth $937,000 after purchasing an additional 3,215 shares during the period. Finally, Verition Fund Management LLC raised its holdings in Treace Medical Concepts by 10.6% in the 3rd quarter. Verition Fund Management LLC now owns 88,370 shares of the company's stock worth $513,000 after purchasing an additional 8,468 shares during the period. Institutional investors and hedge funds own 84.08% of the company's stock.

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Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the sale, the insider now owns 364,081 shares of the company's stock, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TMCI shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital assumed coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They set a "buy" rating and a $14.50 price objective for the company. Truist Financial cut their price objective on Treace Medical Concepts from $10.00 to $9.50 and set a "hold" rating for the company in a research note on Thursday, March 13th. Finally, BTIG Research upgraded 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Treace Medical Concepts presently has an average rating of "Hold" and an average price target of $10.14.

Treace Medical Concepts Stock Up 0.4 %

NASDAQ TMCI traded up $0.03 during trading on Friday, reaching $8.25. 439,501 shares of the company's stock were exchanged, compared to its average volume of 731,109. The stock has a market cap of $516.61 million, a P/E ratio of -8.33 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. The company has a 50 day moving average price of $9.22 and a two-hundred day moving average price of $7.46. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $13.24.

About Treace Medical Concepts

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.