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

William Blair Investment Management LLC trimmed its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 68.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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’s holdings in Treace Medical Concepts were worth $2,806,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new stake in Treace Medical Concepts in the 3rd quarter worth $122,199,000. Weber Capital Management LLC ADV bought a new position in shares of Treace Medical Concepts in the fourth quarter worth about $1,445,000. First Eagle Investment Management LLC grew its position in shares of Treace Medical Concepts by 36.4% during the third quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock worth $8,313,000 after purchasing an additional 330,866 shares in the last quarter. Acuitas Investments LLC purchased a new stake in shares of Treace Medical Concepts during the third quarter worth about $2,020,000. Finally, Paradigm Capital Management Inc. NY bought a new stake in Treace Medical Concepts during the 2nd quarter valued at approximately $1,577,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 1.8%

Shares of TMCI stock opened at $2.83 on Wednesday. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $1.88 and its 200-day moving average price is $2.28. The stock has a market capitalization of $183.58 million, a price-to-earnings ratio of -2.92 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company 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%. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Lake Street Capital reduced 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. Finally, 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. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $4.77.

Insider Activity

In other news, CEO John T. Treace bought 61,750 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $2.62 per share, for a total transaction of $161,785.00. Following the transaction, the chief executive officer owned 7,158,313 shares of the company’s stock, valued at $18,754,780.06. The trade was a 0.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 153,763 shares of company stock worth $375,667. 23.42% of the stock is owned by corporate insiders.

Treace Medical Concepts 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.