Ballentine Partners LLC Boosts Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Ballentine Partners LLC raised its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,009 shares of the company’s stock after buying an additional 2,314 shares during the quarter. Ballentine Partners LLC’s holdings in Treace Medical Concepts were worth $186,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Treace Medical Concepts by 215.1% during the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after acquiring an additional 861,689 shares during the last quarter. State Street Corp grew its stake in shares of Treace Medical Concepts by 4.2% during the third quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after buying an additional 39,907 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Treace Medical Concepts by 65.9% in the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock worth $3,079,000 after buying an additional 183,921 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Treace Medical Concepts by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company’s stock worth $2,268,000 after acquiring an additional 17,783 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Treace Medical Concepts during the 2nd quarter valued at $2,412,000. Institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TMCI shares. Truist Financial lifted their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price on the stock. Stifel Nicolaus boosted their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.98.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $9.22 on Friday. The firm’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $6.78. The firm has a market capitalization of $574.41 million, a P/E ratio of -9.31 and a beta of 0.69. The company has a current ratio of 4.12, a quick ratio of 2.98 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 $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. The company had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.28) EPS. Analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

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.