Gagnon Advisors LLC Raises Position in Treace Medical Concepts, Inc. $TMCI

Key Points

• Gagnon Advisors LLC increased its stake in Treace Medical Concepts, Inc. by 69.5% during Q2, now holding 830,270 shares valued at approximately $4.88 million.
• Wall Street analysts have issued varying ratings for Treace Medical Concepts, with an average target price of $9.83 and two analysts rating the stock as a "Buy."
• The company's stock is currently priced at $6.00, down 4.8%, with a twelve month high of $10.79 and a twelve month low of $4.54.

Gagnon Advisors LLC raised its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 69.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 830,270 shares of the company's stock after acquiring an additional 340,379 shares during the quarter. Treace Medical Concepts makes up 3.3% of Gagnon Advisors LLC's investment portfolio, making the stock its 15th largest position. Gagnon Advisors LLC owned 1.32% of Treace Medical Concepts worth $4,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Parkman Healthcare Partners LLC purchased a new stake in Treace Medical Concepts in the first quarter worth about $5,987,000. Driehaus Capital Management LLC bought a new position in Treace Medical Concepts during the first quarter valued at approximately $3,929,000. Millennium Management LLC lifted its position in Treace Medical Concepts by 35.3% during the first quarter. Millennium Management LLC now owns 444,887 shares of the company's stock valued at $3,733,000 after purchasing an additional 116,114 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 30,901 shares during the period. Finally, Nuveen LLC bought a new position in Treace Medical Concepts in the first quarter worth approximately $2,120,000. Hedge funds and other institutional investors own 84.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TMCI. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Truist Financial increased their price objective on shares of Treace Medical Concepts from $6.60 to $8.00 and gave the company a "hold" rating in a research report on Thursday, September 4th. UBS Group reiterated a "neutral" rating and set a $6.50 price objective (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Treace Medical Concepts in a report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.83.

Treace Medical Concepts Stock Down 4.8%

NASDAQ:TMCI opened at $6.00 on Wednesday. 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 twelve month low of $4.54 and a twelve month high of $10.79. The company's 50 day moving average is $6.76 and its two-hundred day moving average is $6.59. The company has a market cap of $379.02 million, a PE ratio of -7.59 and a beta of 0.69.

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 the consensus estimate of ($0.29) by $0.01. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. The firm had revenue of $47.39 million during the quarter, compared to analysts' expectations of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. Analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

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.

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