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 purchased a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 56,220 shares of the company's stock, valued at approximately $472,000. Legato Capital Management LLC owned about 0.09% of Treace Medical Concepts at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Treace Medical Concepts during the 4th quarter valued at $69,000. CWM LLC raised its stake in shares of Treace Medical Concepts by 126.0% during the 1st quarter. CWM LLC now owns 8,706 shares of the company's stock valued at $73,000 after purchasing an additional 4,853 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Treace Medical Concepts during the 4th quarter valued at $77,000. Bayesian Capital Management LP bought a new stake in shares of Treace Medical Concepts during the 4th quarter valued at $77,000. Finally, GAMMA Investing LLC raised its stake in shares of Treace Medical Concepts by 10,236.0% during the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company's stock valued at $87,000 after purchasing an additional 10,236 shares during the period. Hedge funds and other institutional investors own 84.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group decreased their price objective on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Truist Financial decreased their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.52.

Treace Medical Concepts Trading Down 1.6%

Shares of Treace Medical Concepts stock traded down $0.09 during trading on Friday, hitting $5.70. 246,358 shares of the stock traded hands, compared to its average volume of 248,607. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.50 and a quick ratio of 3.36. Treace Medical Concepts, Inc. has a 52 week low of $4.54 and a 52 week high of $10.79. The firm's fifty day moving average is $5.91 and its 200-day moving average is $7.47.

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

About Treace Medical Concepts

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.