Treace Medical Concepts, Inc. $TMCI Shares Purchased by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC increased its stake in Treace Medical Concepts by 28.8%, owning over 2.25 million shares and making it the firm's 13th largest holding.
• Various institutional investors, including Wealth Enhancement Advisory Services and Palumbo Wealth Management, have also recently adjusted their holdings in the company.
• Treace Medical Concepts reported a quarterly earnings beat with revenue of $47.39 million, exceeding analyst expectations, while setting FY 2025 EPS guidance at -0.92.

Gagnon Securities LLC boosted its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 28.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,250,148 shares of the company's stock after buying an additional 503,612 shares during the period. Treace Medical Concepts accounts for approximately 2.7% of Gagnon Securities LLC's investment portfolio, making the stock its 13th largest holding. Gagnon Securities LLC owned 3.58% of Treace Medical Concepts worth $13,231,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Treace Medical Concepts by 1.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 244,800 shares of the company's stock valued at $2,054,000 after purchasing an additional 2,645 shares during the period. Palumbo Wealth Management LLC increased its holdings in shares of Treace Medical Concepts by 15.4% during the first quarter. Palumbo Wealth Management LLC now owns 25,690 shares of the company's stock valued at $216,000 after purchasing an additional 3,431 shares during the period. Birchview Capital LP increased its holdings in shares of Treace Medical Concepts by 2.2% during the first quarter. Birchview Capital LP now owns 164,947 shares of the company's stock valued at $1,384,000 after purchasing an additional 3,597 shares during the period. Rhumbline Advisers increased its holdings in shares of Treace Medical Concepts by 5.8% during the first quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock valued at $587,000 after purchasing an additional 3,843 shares during the period. Finally, Farther Finance Advisors LLC acquired a new position in shares of Treace Medical Concepts during the second quarter valued at $28,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TMCI has been the topic of a number of research analyst reports. UBS Group reaffirmed 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. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Treace Medical Concepts in a report on Saturday, September 27th. Truist Financial lifted their target price on Treace Medical Concepts from $6.60 to $8.00 and gave the stock a "hold" rating in a report on Thursday, September 4th. Finally, Stifel Nicolaus lowered 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. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Treace Medical Concepts has an average rating of "Hold" and a consensus target price of $9.83.

Treace Medical Concepts Trading Down 4.8%

NASDAQ:TMCI opened at $6.00 on Wednesday. The company has a quick ratio of 2.51, a current ratio of 3.52 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 firm has a market capitalization of $379.02 million, a price-to-earnings ratio of -7.59 and a beta of 0.69. The stock has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $6.59.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%.The business had revenue of $47.39 million during the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share 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.

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