Driehaus Capital Management LLC Buys Shares of 468,278 Treace Medical Concepts, Inc. $TMCI

Key Points

• Driehaus Capital Management LLC has acquired 468,278 shares of Treace Medical Concepts, valued at approximately $3.93 million, making up about 0.74% of the company's stock as per its latest SEC filing.
• Treace Medical Concepts reported a $0.28 earnings per share, slightly exceeding analysts' expectations of ($0.29), with revenue reported at $47.39 million during the quarter.
• Wall Street analysts have given TMCI a consensus rating of "Hold" with a price target averaging $9.83, although individual targets have been revised down by several firms.

Driehaus Capital Management LLC purchased a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 468,278 shares of the company's stock, valued at approximately $3,929,000. Driehaus Capital Management LLC owned approximately 0.74% of Treace Medical Concepts as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in Treace Medical Concepts by 45.6% during the fourth quarter. Wells Fargo & Company MN now owns 24,796 shares of the company's stock worth $184,000 after purchasing an additional 7,769 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $392,000. Stifel Financial Corp lifted its position in shares of Treace Medical Concepts by 41.5% during the 4th quarter. Stifel Financial Corp now owns 189,301 shares of the company's stock worth $1,408,000 after buying an additional 55,540 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Treace Medical Concepts by 22.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company's stock valued at $142,000 after buying an additional 3,452 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Treace Medical Concepts in the fourth quarter valued at $90,000. Institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Trading Down 1.2%

Shares of NASDAQ:TMCI traded down $0.09 during midday trading on Thursday, hitting $7.17. The company had a trading volume of 192,878 shares, compared to its average volume of 393,499. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. Treace Medical Concepts, Inc. has a 12 month low of $4.54 and a 12 month high of $10.79. The firm has a fifty day simple moving average of $6.30 and a 200 day simple moving average of $6.95. The stock has a market cap of $452.61 million, a price-to-earnings ratio of -9.07 and a beta of 0.71.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. The firm had revenue of $47.39 million for the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%. Treace Medical Concepts has set its FY 2025 guidance at EPS. On average, analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

TMCI has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their target price on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Truist Financial lifted their target price on shares of Treace Medical Concepts from $6.60 to $8.00 and gave the company a "hold" rating in a research note on Thursday. Finally, UBS Group reissued a "neutral" rating and issued a $6.50 target price (down from $8.60) on shares of Treace Medical Concepts in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $9.83.

Treace Medical Concepts 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.