JPMorgan Chase & Co. Increases Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

JPMorgan Chase & Co. lifted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 215.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262,235 shares of the company’s stock after purchasing an additional 861,689 shares during the period. JPMorgan Chase & Co.’s holdings in Treace Medical Concepts were worth $7,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMCI. Lighthouse Investment Partners LLC bought a new position in shares of Treace Medical Concepts during the 2nd quarter worth approximately $1,114,000. FMR LLC increased its position in shares of Treace Medical Concepts by 228.5% during the third quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after acquiring an additional 54,353 shares during the last quarter. HighTower Advisors LLC bought a new stake in Treace Medical Concepts during the third quarter worth $58,000. Barclays PLC boosted its position in Treace Medical Concepts by 352.2% in the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after purchasing an additional 62,073 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Treace Medical Concepts in the 3rd quarter valued at $212,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented 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 note on Wednesday, December 18th. Stifel Nicolaus lifted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.98.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $8.01 on Wednesday. The firm has a market capitalization of $499.00 million, a PE ratio of -8.09 and a beta of 0.69. 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 company has a 50-day moving average price of $7.73 and a two-hundred day moving average price of $6.66. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS 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 company had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same period last year, the firm earned ($0.28) EPS. Treace Medical Concepts’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

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.