CIBC Bancorp USA Inc. Buys New Stake in Treace Medical Concepts, Inc. $TMCI

CIBC Bancorp USA Inc. bought a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the third quarter, HoldingsChannel reports. The fund bought 18,211,522 shares of the company’s stock, valued at approximately $122,199,000. CIBC Bancorp USA Inc. owned approximately 0.29% of Treace Medical Concepts at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TMCI. Invesco Ltd. raised its holdings in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after acquiring an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after purchasing an additional 3,677 shares in the last quarter. BNP Paribas Financial Markets increased its position in Treace Medical Concepts by 5.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock worth $958,000 after purchasing an additional 7,898 shares in the last quarter. Finally, Gagnon Securities LLC raised its stake in Treace Medical Concepts by 0.4% in the 3rd quarter. Gagnon Securities LLC now owns 2,258,238 shares of the company’s stock valued at $15,153,000 after purchasing an additional 8,090 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

TMCI has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Stifel Nicolaus lowered their price target on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Wall Street Zen lowered shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Lake Street Capital reduced their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $4.77.

Treace Medical Concepts Trading Up 2.8%

Shares of TMCI stock opened at $1.46 on Wednesday. The firm’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $3.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.31 and a quick ratio of 3.13. Treace Medical Concepts, Inc. has a 1-year low of $1.31 and a 1-year high of $8.87. The firm has a market cap of $94.30 million, a P/E ratio of -1.55 and a beta of 0.77.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Friday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative net margin of 27.74% and a negative return on equity of 59.91%. The firm had revenue of $62.52 million during the quarter, compared to the consensus estimate of $61.76 million. As a group, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.