Franklin Resources Inc. Acquires Shares of 36,487 Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Franklin Resources Inc. acquired a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,487 shares of the company’s stock, valued at approximately $212,000. Franklin Resources Inc. owned 0.06% of Treace Medical Concepts as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Armistice Capital LLC grew its position in Treace Medical Concepts by 123.3% during the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after buying an additional 2,960,000 shares during the period. William Blair Investment Management LLC grew its position in shares of Treace Medical Concepts by 58.0% during the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock valued at $24,483,000 after acquiring an additional 1,352,207 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at about $2,412,000. Acadian Asset Management LLC purchased a new position in shares of Treace Medical Concepts in the 2nd quarter valued at about $2,247,000. Finally, Marshall Wace LLP raised its holdings in Treace Medical Concepts by 65.9% in the 2nd quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock worth $3,079,000 after purchasing an additional 183,921 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Up 5.8 %

NASDAQ TMCI opened at $7.87 on Friday. The business has a fifty day moving average price of $7.23 and a 200 day moving average price of $6.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The company has a market cap of $490.28 million, a P/E ratio of -7.95 and a beta of 0.66. Treace Medical Concepts, Inc. has a one year low of $3.92 and a one year high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $45.09 million during the quarter, compared to analysts’ expectations of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.28) earnings per share. Research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TMCI has been the topic of several research analyst reports. Lake Street Capital assumed coverage on Treace Medical Concepts in a report on Tuesday. They issued a “buy” rating and a $14.50 price objective on the stock. Truist Financial lifted their price target on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.98.

Treace Medical Concepts Profile

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.