William Blair Investment Management LLC Sells 2,488,883 Shares of Treace Medical Concepts, Inc. $TMCI

Key Points

• William Blair Investment Management cut its Treace Medical Concepts stake by 68.5% in the fourth quarter, selling 2,488,883 shares and leaving it with 1,145,498 shares worth about $2.8 million.
• Insider buying continued, with CEO John T. Treace purchasing 61,750 shares for about $161,785; insiders have bought 153,763 shares over the last three months.
• Treace Medical Concepts reported a smaller-than-expected loss and stronger-than-expected revenue for the quarter, but analysts still view the stock cautiously, with a consensus rating of "Reduce" and an average target price of $4.77.

William Blair Investment Management LLC trimmed its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 68.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,145,498 shares of the company's stock after selling 2,488,883 shares during the period. William Blair Investment Management LLC owned 1.80% of Treace Medical Concepts worth $2,806,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock valued at $88,000 after purchasing an additional 2,362 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock worth $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC increased its holdings in Treace Medical Concepts by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company's stock worth $5,688,000 after buying an additional 3,677 shares in the last quarter. BNP Paribas Financial Markets raised its position in Treace Medical Concepts by 5.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company's stock worth $958,000 after buying an additional 7,898 shares during the last quarter. Finally, Gagnon Securities LLC raised its position in Treace Medical Concepts by 0.4% in the 3rd quarter. Gagnon Securities LLC now owns 2,258,238 shares of the company's stock worth $15,153,000 after buying an additional 8,090 shares during the last quarter. Institutional investors own 84.08% of the company's stock.

Analyst Upgrades and Downgrades

TMCI has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Wall Street Zen raised shares of Treace Medical Concepts from a "strong sell" rating to a "sell" rating in a report on Monday, April 27th. Finally, Lake Street Capital lowered their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Reduce" and an average target price of $4.77.

Insider Buying and Selling

In related news, CEO John T. Treace acquired 61,750 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $2.62 per share, with a total value of $161,785.00. Following the completion of the purchase, the chief executive officer directly owned 7,158,313 shares of the company's stock, valued at $18,754,780.06. This represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 153,763 shares of company stock valued at $375,667 in the last three months. Corporate insiders own 23.42% of the company's stock.

Treace Medical Concepts Trading Up 1.8%

Shares of Treace Medical Concepts stock opened at $2.83 on Wednesday. Treace Medical Concepts, Inc. has a 1-year low of $1.17 and a 1-year high of $7.78. The company's fifty day simple moving average is $1.88 and its 200-day simple moving average is $2.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The stock has a market capitalization of $183.58 million, a PE ratio of -2.92 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $47.20 million during the quarter, compared to analyst estimates of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. As a group, equities analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.

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