Arcadia Wealth Management Inc. bought a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 209,972 shares of the company's stock, valued at approximately $1,762,000. Treace Medical Concepts makes up 1.4% of Arcadia Wealth Management Inc.'s portfolio, making the stock its 18th biggest position. Arcadia Wealth Management Inc. owned about 0.33% of Treace Medical Concepts as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC increased its position in shares of Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company's stock worth $73,000 after purchasing an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $77,000. Bayesian Capital Management LP bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $77,000. GAMMA Investing LLC increased its position in shares of Treace Medical Concepts by 10,236.0% in the 1st 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 last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Treace Medical Concepts in the 1st quarter worth about $88,000. Institutional investors and hedge funds own 84.08% of the company's stock.
Treace Medical Concepts Stock Performance
Shares of NASDAQ TMCI traded up $0.43 during midday trading on Wednesday, hitting $6.96. The company's stock had a trading volume of 351,072 shares, compared to its average volume of 396,026. Treace Medical Concepts, Inc. has a 1-year low of $4.54 and a 1-year high of $10.79. The firm's fifty day moving average price is $5.83 and its 200-day moving average price is $7.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.36 and a current ratio of 3.52. The firm has a market cap of $439.66 million, a P/E ratio of -8.81 and a beta of 0.68.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. The firm had revenue of $47.39 million during the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. On average, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on TMCI shares. UBS Group reissued a "neutral" rating and issued a $6.50 target price (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Stifel Nicolaus decreased their price target on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a report on Friday, August 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $9.83.
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Treace Medical Concepts Profile
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Free Report)
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.
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