Alliancebernstein L.P. Cuts Stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Alliancebernstein L.P. trimmed its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,180 shares of the company’s stock after selling 8,950 shares during the period. Alliancebernstein L.P.’s holdings in Treace Medical Concepts were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Treace Medical Concepts by 215.1% during the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock valued at $7,321,000 after purchasing an additional 861,689 shares in the last quarter. William Blair Investment Management LLC boosted its position in Treace Medical Concepts by 22.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock valued at $21,865,000 after buying an additional 546,787 shares during the last quarter. Norges Bank purchased a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $490,000. Barclays PLC raised its position in Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after acquiring an additional 62,073 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $392,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Down 1.2 %

TMCI stock opened at $6.45 on Monday. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $8.36 and its 200 day simple moving average is $7.80. The stock has a market cap of $405.33 million, a PE ratio of -6.51 and a beta of 0.77. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $11.39.

Insider Transactions at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.43% of the company’s stock.

Analysts Set New Price Targets

TMCI has been the subject of several research reports. Truist Financial cut their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Lake Street Capital initiated coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price for the company. Finally, BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.93.

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.