Arcadia Wealth Management Inc. Takes $1.76 Million Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Key Points

• Arcadia Wealth Management Inc. invested approximately $1.76 million in Treace Medical Concepts, acquiring 209,972 shares, which make up about 1.4% of its investment portfolio.
• Multiple hedge funds have recently increased their stakes in Treace Medical Concepts, with 84.08% of the stock owned by institutional investors.
• Analysts have downgraded Treace Medical Concepts' target price in recent reports, with a consensus rating of "Hold" and a target price of $9.83.

Arcadia Wealth Management Inc. purchased a new position in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 209,972 shares of the company's stock, valued at approximately $1,762,000. Treace Medical Concepts comprises about 1.4% of Arcadia Wealth Management Inc.'s portfolio, making the stock its 18th biggest holding. Arcadia Wealth Management Inc. owned approximately 0.33% of Treace Medical Concepts at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Treace Medical Concepts by 56.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company's stock valued at $14,711,000 after acquiring an additional 714,984 shares during the period. Geode Capital Management LLC boosted its holdings in Treace Medical Concepts by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company's stock valued at $7,909,000 after purchasing an additional 22,159 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Treace Medical Concepts by 11.4% in the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company's stock valued at $3,518,000 after purchasing an additional 48,525 shares during the last quarter. Northern Trust Corp raised its stake in Treace Medical Concepts by 2.3% during the fourth quarter. Northern Trust Corp now owns 468,894 shares of the company's stock valued at $3,489,000 after buying an additional 10,711 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Treace Medical Concepts by 8.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 380,411 shares of the company's stock valued at $3,192,000 after buying an additional 30,901 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Up 4.2%

Shares of TMCI traded up $0.26 during mid-day trading on Monday, reaching $6.39. The company's stock had a trading volume of 515,225 shares, compared to its average volume of 299,113. The business has a fifty day moving average of $5.82 and a 200 day moving average of $7.24. The company has a market cap of $403.66 million, a price-to-earnings ratio of -8.09 and a beta of 0.68. Treace Medical Concepts, Inc. has a 1 year low of $4.54 and a 1 year high of $10.79. The company has a quick ratio of 3.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced 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. Treace Medical Concepts had a negative return on equity of 45.66% and a negative net margin of 23.01%. The business had revenue of $47.39 million during the quarter, compared to analyst estimates of $47.08 million. As a group, analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TMCI shares. Stifel Nicolaus dropped their price target on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a research report on Friday. UBS Group decreased their price target on Treace Medical Concepts from $8.60 to $6.50 and set a "neutral" rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $9.83.

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.