Acadian Asset Management LLC Acquires 50,669 Shares of Treace Medical Concepts, Inc. $TMCI

Key Points

• Acadian Asset Management LLC increased its stake in Treace Medical Concepts by 66.9%, acquiring an additional 50,669 shares, bringing its total ownership to 126,457 shares valued at approximately $1,060,000.
• Treace Medical Concepts stock price rose by 2.1%, trading at $7.19, while the company reported revenue of $47.39 million for the last quarter, exceeding analysts' expectations.
• Analysts have given Treace Medical Concepts a consensus rating of "Hold" with varying price targets, including a recent target increase by Truist Financial from $6.60 to $8.00.

Acadian Asset Management LLC boosted its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 66.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,457 shares of the company's stock after buying an additional 50,669 shares during the period. Acadian Asset Management LLC owned approximately 0.20% of Treace Medical Concepts worth $1,060,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TMCI. CWM LLC lifted its holdings in Treace Medical Concepts by 126.0% in the first quarter. CWM LLC now owns 8,706 shares of the company's stock valued at $73,000 after buying an additional 4,853 shares during the period. GAMMA Investing LLC raised its holdings in Treace Medical Concepts by 10,236.0% in the first quarter. GAMMA Investing LLC now owns 10,336 shares of the company's stock worth $87,000 after purchasing an additional 10,236 shares during the period. XTX Topco Ltd acquired a new stake in Treace Medical Concepts in the first quarter worth $88,000. Hsbc Holdings PLC acquired a new stake in Treace Medical Concepts in the first quarter worth $89,000. Finally, Alpha Wealth Funds LLC acquired a new stake in Treace Medical Concepts in the fourth quarter worth $96,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Truist Financial increased their target price on shares of Treace Medical Concepts from $6.60 to $8.00 and gave the stock a "hold" rating in a report on Thursday, September 4th. Finally, UBS Group reiterated 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 investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Treace Medical Concepts presently has an average rating of "Hold" and a consensus target price of $9.83.

Treace Medical Concepts Stock Down 4.2%

Shares of TMCI stock traded down $0.30 during trading hours on Friday, hitting $6.89. 697,518 shares of the company were exchanged, compared to its average volume of 313,624. The business has a 50 day moving average of $6.58 and a two-hundred day moving average of $6.72. 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 52 week low of $4.54 and a 52 week high of $10.79. The company has a market capitalization of $435.24 million, a PE ratio of -8.72 and a beta of 0.71.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. The company had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. Treace Medical Concepts has set its FY 2025 guidance at EPS. Analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

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.