First Eagle Investment Management LLC Purchases 224,088 Shares of Treace Medical Concepts, Inc. $TMCI

First Eagle Investment Management LLC raised its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 18.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,462,983 shares of the company’s stock after purchasing an additional 224,088 shares during the period. First Eagle Investment Management LLC’s holdings in Treace Medical Concepts were worth $3,584,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TMCI. Osaic Holdings Inc. grew its holdings in shares of Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after acquiring an additional 3,674 shares in the last quarter. Balance Wealth LLC bought a new stake in Treace Medical Concepts during the fourth quarter worth $37,000. SG Americas Securities LLC purchased a new position in Treace Medical Concepts in the fourth quarter worth $46,000. Captrust Financial Advisors bought a new position in Treace Medical Concepts in the 2nd quarter valued at $62,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Treace Medical Concepts in the 3rd quarter valued at $87,000. Institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital dropped their target price on 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 analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Price Performance

TMCI stock opened at $2.53 on Thursday. The firm has a 50 day moving average of $1.64 and a 200-day moving average of $2.52. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The firm has a market capitalization of $164.12 million, a P/E ratio of -2.61 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million for the quarter, compared to analyst estimates of $45.96 million. As a group, sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current fiscal year.

About Treace Medical Concepts

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.