Stifel Financial Corp Decreases Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Stifel Financial Corp cut its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 11.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 133,761 shares of the company’s stock after selling 17,975 shares during the quarter. Stifel Financial Corp’s holdings in Treace Medical Concepts were worth $776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TMCI. Quarry LP purchased a new stake in shares of Treace Medical Concepts during the third quarter valued at approximately $38,000. HighTower Advisors LLC bought a new stake in Treace Medical Concepts during the 3rd quarter valued at $58,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Treace Medical Concepts by 243.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after buying an additional 7,522 shares during the period. Walleye Capital LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at $75,000. Finally, Palumbo Wealth Management LLC bought a new stake in Treace Medical Concepts in the 3rd quarter worth $75,000. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $6.97 on Wednesday. The business’s fifty day moving average is $6.97 and its 200 day moving average is $6.49. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $15.98. 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 market capitalization of $434.21 million, a PE ratio of -7.04 and a beta of 0.66.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) EPS. Sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TMCI shares. Truist Financial upped their price objective on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus lifted their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.88.

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.