Barclays PLC Increases Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Barclays PLC boosted its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 352.2% in the 3rd quarter, Holdings Channel reports. The firm owned 79,696 shares of the company’s stock after purchasing an additional 62,073 shares during the period. Barclays PLC’s holdings in Treace Medical Concepts were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of TMCI. Acadian Asset Management LLC purchased a new position in Treace Medical Concepts during the 2nd quarter worth $2,247,000. Lighthouse Investment Partners LLC acquired a new position in shares of Treace Medical Concepts during the second quarter worth about $1,114,000. FMR LLC raised its holdings in Treace Medical Concepts by 228.5% during the third quarter. FMR LLC now owns 78,135 shares of the company’s stock worth $453,000 after purchasing an additional 54,353 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Treace Medical Concepts in the 3rd quarter valued at approximately $58,000. Finally, Point72 Asset Management L.P. purchased a new stake in Treace Medical Concepts in the 2nd quarter valued at approximately $2,412,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 0.4 %

Shares of TMCI stock opened at $7.90 on Friday. The stock has a market cap of $492.15 million, a P/E ratio of -7.98 and a beta of 0.66. 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 fifty-two week low of $3.92 and a fifty-two week high of $15.98. The business has a fifty day simple moving average of $7.35 and a 200-day simple moving average of $6.57.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business had revenue of $45.09 million during the quarter, compared to analysts’ expectations of $43.48 million. During the same period last year, the company posted ($0.28) EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TMCI shares. Lake Street Capital initiated coverage on Treace Medical Concepts in a report on Tuesday. They issued a “buy” rating and a $14.50 price target for the company. Truist Financial raised their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus upped their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.98.

Treace Medical Concepts 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.