Parkman Healthcare Partners LLC bought a new position in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 713,539 shares of the company's stock, valued at approximately $5,987,000. Parkman Healthcare Partners LLC owned 1.13% of Treace Medical Concepts as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of TMCI. Wells Fargo & Company MN increased its position in shares of Treace Medical Concepts by 45.6% during the fourth quarter. Wells Fargo & Company MN now owns 24,796 shares of the company's stock worth $184,000 after acquiring an additional 7,769 shares in the last quarter. Raymond James Financial Inc. bought a new position in Treace Medical Concepts in the fourth quarter valued at approximately $392,000. Price T Rowe Associates Inc. MD increased its holdings in Treace Medical Concepts by 22.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company's stock worth $142,000 after buying an additional 3,452 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Treace Medical Concepts by 2.3% in the 4th quarter. Northern Trust Corp now owns 468,894 shares of the company's stock valued at $3,489,000 after purchasing an additional 10,711 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Treace Medical Concepts during the 4th quarter valued at $590,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on TMCI. Stifel Nicolaus decreased their target price on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Truist Financial boosted 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. Finally, UBS Group restated a "neutral" rating and issued a $6.50 price target (down from $8.60) on shares of Treace Medical Concepts in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.83.
Read Our Latest Analysis on TMCI
Treace Medical Concepts Trading Up 6.3%
Shares of TMCI stock traded up $0.44 during trading hours on Thursday, hitting $7.44. 340,028 shares of the company were exchanged, compared to its average volume of 393,354. The company has a 50 day simple moving average of $6.43 and a two-hundred day simple moving average of $6.85. The firm has a market cap of $470.01 million, a P/E ratio of -9.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.51 and a current ratio of 3.52. Treace Medical Concepts, Inc. has a fifty-two week low of $4.54 and a fifty-two week high of $10.79.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping 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 business had revenue of $47.39 million for the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. Equities analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.
Treace Medical Concepts Company 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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