William Blair Investment Management LLC Raises Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

William Blair Investment Management LLC boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 58.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,681,718 shares of the company’s stock after buying an additional 1,352,207 shares during the quarter. William Blair Investment Management LLC owned approximately 0.06% of Treace Medical Concepts worth $24,483,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TMCI. Armistice Capital LLC purchased a new position in Treace Medical Concepts during the fourth quarter valued at approximately $36,414,000. Norges Bank acquired a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $8,725,000. Acadian Asset Management LLC acquired a new stake in Treace Medical Concepts in the second quarter valued at approximately $2,247,000. Simplicity Wealth LLC acquired a new stake in Treace Medical Concepts in the second quarter valued at approximately $538,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Treace Medical Concepts by 5.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after acquiring an additional 76,030 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Treace Medical Concepts news, Director James T. Treace bought 84,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the transaction, the director now directly owns 1,223,441 shares of the company’s stock, valued at approximately $7,291,708.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Treace acquired 85,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $6.00 per share, with a total value of $510,000.00. Following the acquisition, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. The disclosure for this purchase can be found here. 24.43% of the stock is currently owned by insiders.

Treace Medical Concepts Trading Up 1.2 %

NASDAQ:TMCI opened at $5.12 on Monday. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $15.98. The firm has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $8.24. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $317.48 million, a P/E ratio of -5.82 and a beta of 0.21.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Truist Financial lowered their target price on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, Treace Medical Concepts has an average rating of “Hold” and a consensus price target of $7.30.

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.