William Blair Investment Management LLC Buys 534,486 Shares of Treace Medical Concepts, Inc. $TMCI

William Blair Investment Management LLC lifted its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 17.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,634,381 shares of the company’s stock after buying an additional 534,486 shares during the quarter. William Blair Investment Management LLC owned about 5.70% of Treace Medical Concepts worth $24,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its holdings in Treace Medical Concepts by 18.6% in the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after acquiring an additional 2,362 shares during the period. Osaic Holdings Inc. grew its position 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 purchasing an additional 3,674 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Treace Medical Concepts by 5.1% during the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock worth $958,000 after purchasing an additional 7,898 shares during the period. Gagnon Securities LLC lifted its holdings in Treace Medical Concepts by 0.4% during the 3rd quarter. Gagnon Securities LLC now owns 2,258,238 shares of the company’s stock worth $15,153,000 after purchasing an additional 8,090 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Treace Medical Concepts by 12.6% during the 3rd quarter. Rhumbline Advisers now owns 79,531 shares of the company’s stock worth $534,000 after purchasing an additional 8,893 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $1.66 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 2.36 and a debt-to-equity ratio of 0.60. The company has a market cap of $105.77 million, a PE ratio of -1.77 and a beta of 0.74. The company has a 50 day moving average of $2.34 and a 200-day moving average of $4.35. Treace Medical Concepts, Inc. has a 1-year low of $1.58 and a 1-year high of $9.56.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative net margin of 27.74% and a negative return on equity of 58.37%. The business had revenue of $62.52 million for the quarter, compared to analysts’ expectations of $61.76 million. As a group, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

TMCI has been the topic of several recent research reports. BTIG Research reiterated a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Stifel Nicolaus lowered their price target on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. UBS Group cut their price objective on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a report on Friday, November 7th. Lake Street Capital decreased their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $5.00 price target (down from $8.00) on shares of Treace Medical Concepts in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $4.77.

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.