Parkman Healthcare Partners LLC Acquires Shares of 713,539 Treace Medical Concepts, Inc. $TMCI

Key Points

• Parkman Healthcare Partners LLC has made a new investment of approximately $5.99 million in Treace Medical Concepts, acquiring 713,539 shares during the first quarter.
• Institutional investors currently own 84.08% of Treace Medical Concepts' stock, with significant increases in holdings from firms like CWM LLC and GAMMA Investing LLC.
• Treaace Medical Concepts reported a revenue of $47.39 million for the last quarter, slightly exceeding analysts' expectations, while it continues to have a negative earnings per share of ($0.28).

Parkman Healthcare Partners LLC acquired a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 713,539 shares of the company's stock, valued at approximately $5,987,000. Parkman Healthcare Partners LLC owned approximately 1.13% of Treace Medical Concepts at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Treace Medical Concepts by 126.0% in 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 in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at about $77,000. GAMMA Investing LLC lifted its stake in shares of Treace Medical Concepts by 10,236.0% in 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 in the last quarter. XTX Topco Ltd acquired a new position in shares of Treace Medical Concepts in the 1st quarter valued at about $88,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Treace Medical Concepts in the 1st quarter valued at about $89,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Up 4.1%

NASDAQ:TMCI traded up $0.29 during trading hours on Tuesday, hitting $7.40. The stock had a trading volume of 518,750 shares, compared to its average volume of 353,656. 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 1-year low of $4.54 and a 1-year high of $10.79. The business has a 50 day simple moving average of $6.42 and a two-hundred day simple moving average of $6.85. The company has a market cap of $467.46 million, a PE ratio of -9.37 and a beta of 0.71.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. Analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TMCI. Truist Financial lifted their price objective on Treace Medical Concepts from $6.60 to $8.00 and gave the company a "hold" rating in a research note on Thursday, September 4th. Stifel Nicolaus dropped their target price on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Finally, UBS Group reiterated a "neutral" rating and set a $6.50 target price (down from $8.60) on shares of Treace Medical Concepts in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Hold" and an average target price of $9.83.

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.