CIBC Private Wealth Group LLC Grows Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

CIBC Private Wealth Group LLC boosted its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCIFree Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,460,081 shares of the company’s stock after purchasing an additional 76,030 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 2.37% of Treace Medical Concepts worth $18,616,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System grew its position in shares of Treace Medical Concepts by 17.1% during the third quarter. Arizona State Retirement System now owns 13,097 shares of the company’s stock worth $172,000 after buying an additional 1,910 shares in the last quarter. Jump Financial LLC grew its holdings in Treace Medical Concepts by 72.1% during the 3rd quarter. Jump Financial LLC now owns 67,490 shares of the company’s stock worth $885,000 after acquiring an additional 28,273 shares in the last quarter. Swiss National Bank increased its position in shares of Treace Medical Concepts by 16.5% in the 3rd quarter. Swiss National Bank now owns 101,100 shares of the company’s stock valued at $1,325,000 after purchasing an additional 14,300 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Treace Medical Concepts by 85.1% in the 3rd quarter. Gabelli Funds LLC now owns 141,252 shares of the company’s stock valued at $1,852,000 after purchasing an additional 64,959 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Treace Medical Concepts by 18.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,249 shares of the company’s stock worth $4,408,000 after purchasing an additional 51,892 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Insider Activity

In related news, Director Deepti Jain purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average price of $4.50 per share, for a total transaction of $112,500.00. Following the transaction, the director now directly owns 31,235 shares of the company’s stock, valued at approximately $140,557.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James T. Treace bought 50,000 shares of Treace Medical Concepts stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $5.07 per share, for a total transaction of $253,500.00. Following the purchase, the director now owns 1,089,441 shares of the company’s stock, valued at $5,523,465.87. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deepti Jain bought 25,000 shares of the stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $112,500.00. Following the acquisition, the director now owns 31,235 shares of the company’s stock, valued at $140,557.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 548,902 shares of company stock valued at $2,665,822. Insiders own 24.43% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Report on Treace Medical Concepts

Treace Medical Concepts Trading Up 12.5 %

Shares of NASDAQ TMCI opened at $6.11 on Thursday. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $26.63. The stock has a 50 day moving average of $9.01 and a two-hundred day moving average of $11.14. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, meeting 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 firm had revenue of $51.11 million during the quarter, compared to the consensus estimate of $49.07 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. Treace Medical Concepts’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, research analysts expect that Treace Medical Concepts, Inc. will post -0.87 EPS for the current fiscal year.

Treace Medical Concepts Company Profile

(Free Report)

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.

See Also

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

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