Treace Medical Concepts, Inc. $TMCI Shares Acquired by Gagnon Securities LLC

Gagnon Securities LLC increased its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 12.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,415,918 shares of the company’s stock after buying an additional 386,375 shares during the period. Treace Medical Concepts accounts for approximately 2.6% of Gagnon Securities LLC’s portfolio, making the stock its 15th biggest holding. Gagnon Securities LLC owned approximately 0.05% of Treace Medical Concepts worth $15,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Squarepoint Ops LLC bought a new position in Treace Medical Concepts during the 2nd quarter valued at approximately $282,000. Two Sigma Securities LLC bought a new stake in Treace Medical Concepts in the second quarter worth $47,000. Hsbc Holdings PLC boosted its holdings in Treace Medical Concepts by 74.8% in the second quarter. Hsbc Holdings PLC now owns 54,170 shares of the company’s stock worth $213,000 after acquiring an additional 23,176 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Treace Medical Concepts in the second quarter worth $106,000. Finally, Bank of America Corp DE purchased a new stake in shares of Treace Medical Concepts in the second quarter worth $13,154,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $5.06 on Thursday. The firm’s 50 day moving average price is $4.41 and its 200-day moving average price is $3.32. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $5.44. The company has a quick ratio of 1.95, a current ratio of 2.58 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $331.73 million, a PE ratio of -5.88 and a beta of 1.59.

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, beating the consensus estimate of ($0.25) by $0.06. Treace Medical Concepts had a negative net margin of 27.44% and a negative return on equity of 72.99%. The company had revenue of $48.25 million during the quarter, compared to analyst estimates of $47.80 million. Equities research analysts expect that Treace Medical Concepts, Inc. will post -0.80 EPS for the current year.

Analyst Upgrades and Downgrades

TMCI has been the subject of several recent analyst reports. Truist Financial lifted their price target on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Stifel Nicolaus raised shares of Treace Medical Concepts from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.50 to $6.50 in a research report on Monday. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Finally, UBS Group upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.17.

Insiders Place Their Bets

In other Treace Medical Concepts news, CEO John Treace purchased 39,944 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $4.44 per share, for a total transaction of $177,351.36. Following the purchase, the chief executive officer directly owned 7,388,383 shares of the company’s stock, valued at $32,804,420.52. The trade was a 0.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 55,944 shares of company stock valued at $246,841 in the last 90 days. 23.42% of the stock is currently owned by company insiders.

About Treace Medical Concepts

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.