William Blair Investment Management LLC Raises Position in Treace Medical Concepts, Inc. $TMCI

Key Points

• William Blair Investment Management LLC increased its stake in Treace Medical Concepts, owning approximately 3.1 million shares, which represents 4.93% of the company with a value of $18.2 million.
• The stock of Treace Medical Concepts (NASDAQ:TMCI) has experienced volatility, with a 1-year range between a low of $4.54 and a high of $10.79, currently trading at $6.44.
• Analysts have set a consensus rating of "Hold" for Treace Medical Concepts, with target prices ranging from $6.00 to $9.67 following several revisions.

William Blair Investment Management LLC raised its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,099,895 shares of the company's stock after buying an additional 39,283 shares during the period. William Blair Investment Management LLC owned about 4.93% of Treace Medical Concepts worth $18,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gagnon Securities LLC lifted its stake in shares of Treace Medical Concepts by 28.8% in the 2nd quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company's stock valued at $13,231,000 after acquiring an additional 503,612 shares during the last quarter. Gagnon Advisors LLC lifted its position in Treace Medical Concepts by 69.5% in the second quarter. Gagnon Advisors LLC now owns 830,270 shares of the company's stock valued at $4,882,000 after purchasing an additional 340,379 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Treace Medical Concepts during the first quarter valued at approximately $5,987,000. Driehaus Capital Management LLC bought a new position in shares of Treace Medical Concepts in the first quarter worth approximately $3,929,000. Finally, Millennium Management LLC increased its stake in shares of Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company's stock worth $3,733,000 after buying an additional 116,114 shares during the period. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $6.44 on Monday. Treace Medical Concepts, Inc. has a 1 year low of $4.54 and a 1 year high of $10.79. The stock has a market capitalization of $406.81 million, a P/E ratio of -8.15 and a beta of 0.69. The company's 50-day moving average is $6.85 and its 200 day moving average is $6.46. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.52 and a quick ratio of 2.51.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Tuesday, January 9th. The company reported ($0.22) earnings per share for the quarter. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. The firm had revenue of $33.06 million for the quarter. On average, sell-side analysts expect that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, August 8th. 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. Truist Financial cut their target price on Treace Medical Concepts from $8.00 to $7.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $9.67.

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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