Los Angeles Capital Management LLC Sells 44,403 Shares of Treace Medical Concepts, Inc. $TMCI

Los Angeles Capital Management LLC lowered its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 52.0% during the second quarter, Holdings Channel reports. The institutional investor owned 41,062 shares of the company’s stock after selling 44,403 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Treace Medical Concepts were worth $241,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. William Blair Investment Management LLC lifted its position in Treace Medical Concepts by 1.3% during the second quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock valued at $18,227,000 after acquiring an additional 39,283 shares during the last quarter. Gagnon Securities LLC boosted its position 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 worth $13,231,000 after purchasing an additional 503,612 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Treace Medical Concepts by 82.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock worth $5,339,000 after purchasing an additional 409,105 shares in the last quarter. Gagnon Advisors LLC grew its stake in Treace Medical Concepts by 69.5% during the 2nd quarter. Gagnon Advisors LLC now owns 830,270 shares of the company’s stock worth $4,882,000 after buying an additional 340,379 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in Treace Medical Concepts during the 1st quarter valued at about $5,987,000. Institutional investors own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TMCI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, October 8th. Truist Financial reaffirmed a “hold” rating and issued a $4.00 price objective (down from $7.00) on shares of Treace Medical Concepts in a research report on Monday, November 10th. Stifel Nicolaus lowered their target price on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, August 8th. BTIG Research reissued a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Finally, UBS Group cut their price target on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $8.56.

Treace Medical Concepts Trading Down 3.5%

Treace Medical Concepts stock opened at $3.03 on Monday. The stock has a 50-day moving average price of $6.26 and a 200 day moving average price of $6.29. The company has a market capitalization of $193.07 million, a price-to-earnings ratio of -3.79 and a beta of 0.68. Treace Medical Concepts, Inc. has a 52 week low of $2.96 and a 52 week high of $10.79. The company has a quick ratio of 2.36, a current ratio of 3.37 and a debt-to-equity ratio of 0.60.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Tuesday, January 9th. The company reported ($0.22) earnings per share for the quarter. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%.The business had revenue of $33.06 million during the quarter. Sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

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.