Legato Capital Management LLC Makes New $472,000 Investment in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Key Points

• Legato Capital Management LLC acquired 56,220 shares of Treace Medical Concepts, valued at approximately $472,000, representing a 0.09% ownership in the company.
• Treace Medical Concepts reported a quarterly earnings EPS of ($0.25), exceeding analyst expectations of ($0.31), with revenues of $52.57 million, up 2.9% year-over-year.
• Wall Street analysts have updated their ratings, with target prices for Treace Medical Concepts ranging from $8.00 to $8.60, while the stock holds an average rating of "Hold" and an average target price of $10.52.

Legato Capital Management LLC bought a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,220 shares of the company's stock, valued at approximately $472,000. Legato Capital Management LLC owned approximately 0.09% of Treace Medical Concepts at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth $69,000. CWM LLC raised its position in Treace Medical Concepts by 126.0% in the first quarter. CWM LLC now owns 8,706 shares of the company's stock worth $73,000 after acquiring an additional 4,853 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Treace Medical Concepts in the fourth quarter worth about $77,000. Bayesian Capital Management LP bought a new stake in Treace Medical Concepts in the fourth quarter worth about $77,000. Finally, GAMMA Investing LLC raised its position 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 acquiring an additional 10,236 shares in the last quarter. Institutional investors own 84.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group dropped their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating on the stock in a report on Friday, May 9th. Truist Financial reduced their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.52.

Treace Medical Concepts Trading Down 1.6%

Shares of TMCI stock traded down $0.09 during trading hours on Tuesday, reaching $5.66. 38,166 shares of the stock traded hands, compared to its average volume of 392,061. Treace Medical Concepts, Inc. has a 1-year low of $4.54 and a 1-year high of $10.79. The business has a fifty day moving average price of $5.89 and a 200 day moving average price of $7.46. The company has a quick ratio of 3.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $355.96 million, a PE ratio of -6.66 and a beta of 0.69.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.06. The company had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.07 million. Treace Medical Concepts had a negative net margin of 25.14% and a negative return on equity of 48.69%. The company's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. On average, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

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.