CIBC Private Wealth Group LLC Trims Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

CIBC Private Wealth Group LLC trimmed its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 1,135,359 shares of the company’s stock after selling 4,350 shares during the period. CIBC Private Wealth Group LLC’s holdings in Treace Medical Concepts were worth $25,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC acquired a new position in Treace Medical Concepts during the 2nd quarter worth approximately $11,740,000. Perceptive Advisors LLC boosted its holdings in shares of Treace Medical Concepts by 70.2% in the 3rd quarter. Perceptive Advisors LLC now owns 1,601,979 shares of the company’s stock valued at $35,356,000 after buying an additional 660,787 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Treace Medical Concepts by 23.1% in the 3rd quarter. BlackRock Inc. now owns 2,268,911 shares of the company’s stock valued at $50,074,000 after buying an additional 425,350 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at $8,334,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Treace Medical Concepts by 9.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,219,002 shares of the company’s stock valued at $71,042,000 after buying an additional 284,961 shares in the last quarter. 46.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Mark Hair sold 1,040 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $24.41, for a total value of $25,386.40. Following the completion of the transaction, the chief financial officer now owns 27,110 shares in the company, valued at approximately $661,755.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director F Barry Bays sold 25,921 shares of the stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $26.03, for a total value of $674,723.63. Following the sale, the director now directly owns 1,365,336 shares of the company’s stock, valued at approximately $35,539,696.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Hair sold 1,040 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $24.41, for a total transaction of $25,386.40. Following the completion of the sale, the chief financial officer now directly owns 27,110 shares in the company, valued at $661,755.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 429,915 shares of company stock worth $10,046,385. 41.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TMCI. Morgan Stanley upped their target price on shares of Treace Medical Concepts from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, March 8th. BTIG Research upped their target price on shares of Treace Medical Concepts to $29.00 in a report on Tuesday, November 15th.

Treace Medical Concepts Stock Performance

TMCI stock opened at $23.35 on Wednesday. The company has a fifty day moving average price of $23.30 and a 200 day moving average price of $22.92. Treace Medical Concepts, Inc. has a 12 month low of $12.48 and a 12 month high of $26.50. The company has a current ratio of 4.41, a quick ratio of 3.77 and a debt-to-equity ratio of 0.87.

Treace Medical Concepts (NASDAQ:TMCI – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. The firm had revenue of $49.77 million during the quarter. Treace Medical Concepts had a negative net margin of 30.19% and a negative return on equity of 54.51%. Equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.8 EPS for the current fiscal year.

Treace Medical Concepts Profile

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Treace Medical Concepts, Inc, an orthopedic medical device company, engages in the design, manufacture, and marketing of medical devices for foot and ankle surgeons in the United States. It offers Lapiplasty procedure that allows podiatric surgeons to treat all three dimensions of the bunion, providing patients with a cosmetic and medical improvement.