Industrial Alliance Investment Management Inc. Takes $2.84 Million Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Industrial Alliance Investment Management Inc. acquired a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 128,720 shares of the company’s stock, valued at approximately $2,841,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TMCI. Perceptive Advisors LLC increased its position in Treace Medical Concepts by 70.2% in the third quarter. Perceptive Advisors LLC now owns 1,601,979 shares of the company’s stock worth $35,356,000 after purchasing an additional 660,787 shares during the last quarter. BlackRock Inc. increased its position in Treace Medical Concepts by 23.1% in the third quarter. BlackRock Inc. now owns 2,268,911 shares of the company’s stock worth $50,074,000 after purchasing an additional 425,350 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Treace Medical Concepts in the third quarter worth $8,334,000. Vanguard Group Inc. increased its position in Treace Medical Concepts by 9.7% in the third quarter. Vanguard Group Inc. now owns 3,219,002 shares of the company’s stock worth $71,042,000 after purchasing an additional 284,961 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in Treace Medical Concepts in the third quarter worth $5,042,000. Institutional investors own 46.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 25,000 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $25.57, for a total transaction of $639,250.00. Following the completion of the sale, the insider now directly owns 9,975 shares of the company’s stock, valued at $255,060.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sean F. Scanlan sold 25,000 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $25.57, for a total transaction of $639,250.00. Following the completion of the sale, the insider now directly owns 9,975 shares of the company’s stock, valued at $255,060.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James T. Treace sold 37,316 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $21.54, for a total transaction of $803,786.64. Following the sale, the director now directly owns 974,125 shares of the company’s stock, valued at $20,982,652.50. The disclosure for this sale can be found here. Insiders sold 439,315 shares of company stock valued at $10,273,395 over the last three months. 41.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Morgan Stanley boosted their price target on shares of Treace Medical Concepts from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 8th.

Treace Medical Concepts Stock Up 0.4 %

NASDAQ TMCI opened at $23.51 on Friday. The company has a quick ratio of 3.77, a current ratio of 4.41 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $23.30 and a two-hundred day moving average of $22.93. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -30.53 and a beta of -0.10. Treace Medical Concepts, Inc. has a 52 week low of $12.48 and a 52 week high of $26.50.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last posted its quarterly earnings data on Tuesday, March 7th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05. The company 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%. On average, analysts predict that Treace Medical Concepts, Inc. will post -0.8 earnings per share for the current year.

Treace Medical Concepts Company 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.

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Institutional Ownership by Quarter for Treace Medical Concepts (NASDAQ:TMCI)

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