Marshall Wace LLP Raises Stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Marshall Wace LLP lifted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 65.9% in the second quarter, Holdings Channel reports. The firm owned 463,039 shares of the company’s stock after purchasing an additional 183,921 shares during the period. Marshall Wace LLP’s holdings in Treace Medical Concepts were worth $3,079,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TMCI. GAMMA Investing LLC grew its holdings in shares of Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after acquiring an additional 9,245 shares during the period. CWM LLC boosted its holdings in Treace Medical Concepts by 208.7% in the 2nd quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after acquiring an additional 6,826 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after acquiring an additional 3,567 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Treace Medical Concepts by 59.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock worth $111,000 after acquiring an additional 6,227 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace purchased 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares in the company, valued at approximately $38,838,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO John T. Treace purchased 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares in the company, valued at approximately $38,838,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James T. Treace purchased 84,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the transaction, the director now owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 219,000 shares of company stock valued at $1,276,140. Corporate insiders own 24.43% of the company’s stock.

Treace Medical Concepts Stock Performance

Shares of TMCI opened at $5.28 on Friday. The business’s 50 day moving average is $5.99 and its two-hundred day moving average is $7.56. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $15.98. The firm has a market cap of $327.40 million, a price-to-earnings ratio of -6.00 and a beta of 0.20. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business had revenue of $44.46 million during the quarter, compared to analyst estimates of $43.00 million. During the same period in the previous year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TMCI shares. UBS Group upped their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial decreased their price target on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley upped their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Treace Medical Concepts has an average rating of “Hold” and an average target price of $7.30.

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.