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

Ballentine Partners LLC grew its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 10.2% during the fourth quarter, Holdings Channel reports. The firm owned 25,009 shares of the company’s stock after acquiring an additional 2,314 shares during the period. Ballentine Partners LLC’s holdings in Treace Medical Concepts were worth $186,000 as of its most recent filing with the SEC.

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

Treace Medical Concepts Stock Performance

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. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $15.98. The company has a market cap of $574.41 million, a price-to-earnings ratio of -9.31 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.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results 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. 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 analyst estimates of $43.48 million. During the same period last year, the company posted ($0.28) EPS. Treace Medical Concepts’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on TMCI shares. Truist Financial upped 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Stifel Nicolaus increased their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. Six equities 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, Treace Medical Concepts presently has a consensus rating of “Hold” and an average price target of $8.98.

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.