Gagnon Securities LLC Buys 386,375 Shares of Treace Medical Concepts, Inc. $TMCI

Gagnon Securities LLC boosted its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,415,918 shares of the company’s stock after purchasing an additional 386,375 shares during the period. Treace Medical Concepts comprises 2.6% of Gagnon Securities LLC’s investment portfolio, making the stock its 15th largest position. Gagnon Securities LLC owned 5.25% of Treace Medical Concepts worth $15,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Treace Medical Concepts during the second quarter valued at approximately $5,492,000. Bank of America Corp DE purchased a new position in shares of Treace Medical Concepts in the second quarter worth $13,154,000. Renaissance Technologies LLC purchased a new position in shares of Treace Medical Concepts in the first quarter worth $701,000. Weber Capital Management LLC ADV bought a new stake in Treace Medical Concepts during the 2nd quarter valued at $2,346,676. Finally, Ieq Capital LLC bought a new stake in Treace Medical Concepts during the 2nd quarter valued at $437,000. Institutional investors own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TMCI shares. Truist Financial increased their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. UBS Group raised Treace Medical Concepts from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus raised Treace Medical Concepts from a “hold” rating to a “buy” rating and upped their price target for the company from $4.50 to $6.50 in a research report on Monday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Treace Medical Concepts currently has an average rating of “Hold” and an average price target of $6.17.

Treace Medical Concepts Stock Up 3.7%

Shares of Treace Medical Concepts stock opened at $5.06 on Thursday. The company has a current ratio of 2.58, a quick ratio of 1.95 and a debt-to-equity ratio of 0.91. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $5.44. The company has a market cap of $331.73 million, a P/E ratio of -5.88 and a beta of 1.59. The company’s fifty day simple moving average is $4.41 and its two-hundred day simple moving average is $3.32.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Friday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.06. The firm had revenue of $48.25 million during the quarter, compared to analyst estimates of $47.80 million. Treace Medical Concepts had a negative return on equity of 72.99% and a negative net margin of 27.44%. Research analysts anticipate that Treace Medical Concepts, Inc. will post -0.80 EPS for the current year.

Insider Transactions at Treace Medical Concepts

In other news, CEO John Treace acquired 39,944 shares of the stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $4.44 per share, with a total value of $177,351.36. Following the completion of the transaction, the chief executive officer owned 7,388,383 shares of the company’s stock, valued at $32,804,420.52. This represents a 0.54% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 55,944 shares of company stock valued at $246,841 in the last ninety days. 23.42% of the stock is currently owned by corporate insiders.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc. develops and markets medical devices for foot and ankle surgery, with a focus on treatments for bunions and related deformities. Its products are designed for use by surgeons in correcting and stabilizing bones and joints in the foot. The company’s offerings include the Lapiplasty 3D Bunion Correction System, which uses specialized instruments and fixation implants to support correction of bunion deformities in three dimensions. Treace also sells systems and implants for other foot and ankle procedures, including treatments for deformities involving the midfoot and big toe.