Wells Fargo & Company MN Raises Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Wells Fargo & Company MN boosted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 45.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,796 shares of the company’s stock after acquiring an additional 7,769 shares during the quarter. Wells Fargo & Company MN’s holdings in Treace Medical Concepts were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TMCI. ExodusPoint Capital Management LP bought a new stake in Treace Medical Concepts during the fourth quarter valued at about $251,000. Trexquant Investment LP increased its stake in Treace Medical Concepts by 7.0% in the 4th quarter. Trexquant Investment LP now owns 318,889 shares of the company’s stock worth $2,373,000 after buying an additional 21,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Treace Medical Concepts by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock worth $7,909,000 after purchasing an additional 22,159 shares in the last quarter. Norges Bank purchased a new position in Treace Medical Concepts in the 4th quarter worth approximately $490,000. Finally, JPMorgan Chase & Co. boosted its stake in Treace Medical Concepts by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock worth $14,711,000 after purchasing an additional 714,984 shares during the period. Institutional investors own 84.08% of the company’s stock.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now owns 364,081 shares of the company’s stock, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 27.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TMCI has been the topic of several research reports. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Truist Financial decreased their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.93.

Treace Medical Concepts Stock Up 4.4 %

NASDAQ:TMCI opened at $7.52 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. Treace Medical Concepts, Inc. has a 1-year low of $3.93 and a 1-year high of $10.79. The company has a 50-day moving average of $7.61 and a 200 day moving average of $7.93. The firm has a market cap of $472.81 million, a PE ratio of -7.59 and a beta of 0.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 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.