Charles Schwab Investment Management Inc. Grows Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Charles Schwab Investment Management Inc. boosted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 391,033 shares of the company’s stock after purchasing an additional 17,783 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Treace Medical Concepts were worth $2,268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at about $118,000. Stoneridge Investment Partners LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at about $98,000. Palumbo Wealth Management LLC bought a new position in Treace Medical Concepts during the 3rd quarter valued at about $75,000. Ballentine Partners LLC bought a new position in Treace Medical Concepts during the 3rd quarter valued at about $132,000. Finally, SG Americas Securities LLC bought a new position in Treace Medical Concepts during the 3rd quarter valued at about $137,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TMCI shares. Truist Financial lowered their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Stifel Nicolaus upped their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.40.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $7.50 on Monday. The firm’s 50 day moving average price is $6.74 and its 200-day moving average price is $6.44. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $15.98. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $467.25 million, a PE ratio of -7.58 and a beta of 0.66.

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 the consensus estimate 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 firm had revenue of $45.09 million for the quarter, compared to analysts’ expectations of $43.48 million. During the same quarter in the prior year, the business earned ($0.28) EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Treace Medical Concepts, Inc. will post -0.92 EPS for the current 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.