Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Bought by RiverPark Advisors LLC

RiverPark Advisors LLC boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 763.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,993 shares of the company’s stock after purchasing an additional 7,952 shares during the period. RiverPark Advisors LLC’s holdings in Treace Medical Concepts were worth $117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of Treace Medical Concepts in the 4th quarter valued at approximately $68,000. 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 valued at $91,000 after purchasing an additional 3,567 shares during the period. Trexquant Investment LP bought a new stake in Treace Medical Concepts in the 4th quarter valued at $132,000. Capstone Investment Advisors LLC bought a new stake in Treace Medical Concepts in the 4th quarter valued at $163,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Treace Medical Concepts by 78.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,524 shares of the company’s stock valued at $185,000 after purchasing an additional 6,363 shares during the period. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TMCI shares. Morgan Stanley lowered shares of Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $15.00 to $5.50 in a research report on Wednesday, May 8th. BTIG Research downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Stifel Nicolaus downgraded shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $6.00 in a research note on Wednesday, May 8th. Truist Financial downgraded shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $7.00 in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. downgraded shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $8.00 in a research note on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.21.

Insider Activity

In other news, CEO John T. Treace acquired 150,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $4.58 per share, with a total value of $687,000.00. Following the acquisition, the chief executive officer now directly owns 5,943,095 shares of the company’s stock, valued at $27,219,375.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO John T. Treace purchased 150,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $4.58 per share, for a total transaction of $687,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,943,095 shares in the company, valued at approximately $27,219,375.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard W. Mott acquired 12,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average price of $4.99 per share, for a total transaction of $60,379.00. Following the completion of the transaction, the director now owns 1,054,944 shares of the company’s stock, valued at approximately $5,264,170.56. The disclosure for this purchase can be found here. Insiders purchased 593,902 shares of company stock worth $2,930,422 in the last quarter. 24.43% of the stock is owned by corporate insiders.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock traded up $0.09 during trading hours on Tuesday, reaching $6.75. 447,567 shares of the stock were exchanged, compared to its average volume of 896,823. The stock has a 50 day moving average of $6.37 and a two-hundred day moving average of $10.59. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $25.22. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. The company has a market cap of $418.57 million, a P/E ratio of -7.67 and a beta of 0.22.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, hitting the consensus estimate of ($0.30). Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The business had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. During the same period last year, the company earned ($0.23) EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. Equities analysts expect that Treace Medical Concepts, Inc. will post -0.89 EPS for the current fiscal 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.