BlackRock Inc. Takes Position in Treace Medical Concepts, Inc. $TMCI

Key Points

• BlackRock acquired 1.38 million shares of Treace Medical Concepts during the second quarter, worth approximately $5.5 million and representing 2.13% of the company. Institutional investors collectively own 84.08% of TMCI.
• Treace reported quarterly revenue of $45.38 million and an adjusted loss of $0.24 per share, beating analyst expectations, though the company remains unprofitable with a negative net margin of 28.99%.
• TMCI carries an average analyst rating of “Reduce”, with a $5.17 average price target. CEO John Treace and other insiders have purchased 108,261 shares worth approximately $457,613 over the past 90 days.

BlackRock Inc. purchased a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,380,021 shares of the company's stock, valued at approximately $5,492,000. BlackRock Inc. owned about 2.13% of Treace Medical Concepts at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TMCI. Invesco Ltd. increased its position in shares of Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock worth $88,000 after buying an additional 2,362 shares during the period. Osaic Holdings Inc. increased its position in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock valued at $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company's stock valued at $5,688,000 after acquiring an additional 3,677 shares in the last quarter. Barclays PLC increased its stake in Treace Medical Concepts by 7.4% during the 4th quarter. Barclays PLC now owns 87,664 shares of the company's stock valued at $215,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Treace Medical Concepts by 26.8% in the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock worth $40,000 after acquiring an additional 6,554 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Trading Down 1.4%

NASDAQ:TMCI opened at $4.81 on Friday. The firm has a market capitalization of $312.84 million, a P/E ratio of -5.17 and a beta of 1.40. The company has a fifty day moving average of $4.45 and a 200 day moving average of $3.07. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.63.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. The firm had revenue of $45.38 million for the quarter, compared to analysts' expectations of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. On average, research analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TMCI. Truist Financial increased their price target on Treace Medical Concepts from $4.00 to $5.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Weiss Ratings upgraded Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 31st. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $5.17.

Insider Buying and Selling at Treace Medical Concepts

In other news, CEO John Treace acquired 11,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $4.34 per share, for a total transaction of $47,740.00. Following the acquisition, the chief executive officer directly owned 7,404,383 shares in the company, valued at approximately $32,135,022.22. The trade was a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 108,261 shares of company stock worth $457,613 over the last ninety days. 23.42% of the stock is owned by company insiders.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.

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