Palumbo Wealth Management LLC Purchases 9,263 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Palumbo Wealth Management LLC boosted its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 71.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,259 shares of the company’s stock after acquiring an additional 9,263 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Treace Medical Concepts were worth $166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in Treace Medical Concepts by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock worth $135,000 after acquiring an additional 2,160 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Treace Medical Concepts in the third quarter worth approximately $137,000. Ballentine Partners LLC purchased a new position in shares of Treace Medical Concepts in the third quarter worth $132,000. Stoneridge Investment Partners LLC bought a new stake in Treace Medical Concepts during the 3rd quarter valued at $98,000. Finally, Intech Investment Management LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at $118,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TMCI shares. Stifel Nicolaus boosted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Truist Financial boosted their price target on Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a report on Wednesday, December 18th. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Lake Street Capital started coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.99.

Treace Medical Concepts Stock Performance

TMCI stock opened at $10.08 on Friday. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $15.97. The business’s 50 day moving average price is $8.48 and its two-hundred day moving average price is $7.01. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

About Treace Medical Concepts

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.