Wealth Enhancement Advisory Services LLC Has $2.05 Million Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 244,800 shares of the company’s stock after buying an additional 2,645 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.39% of Treace Medical Concepts worth $2,054,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Treace Medical Concepts by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after purchasing an additional 1,216 shares in the last quarter. Rhumbline Advisers increased its holdings in Treace Medical Concepts by 2.0% during the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after purchasing an additional 1,300 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Treace Medical Concepts by 2.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after purchasing an additional 2,150 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Treace Medical Concepts by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company’s stock worth $937,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Treace Medical Concepts by 22.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company’s stock worth $142,000 after purchasing an additional 3,452 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 2.9%

Treace Medical Concepts stock opened at $5.75 on Friday. Treace Medical Concepts, Inc. has a 52 week low of $4.54 and a 52 week high of $10.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50. The stock has a market capitalization of $361.62 million, a P/E ratio of -6.76 and a beta of 0.68. The stock has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $7.66.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 48.69% and a negative net margin of 25.14%. The business had revenue of $52.57 million during the quarter, compared to analysts’ expectations of $52.07 million. During the same quarter last year, the company posted ($0.30) earnings per share. Treace Medical Concepts’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

TMCI has been the subject of a number of research reports. UBS Group lowered their target price on Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a report on Friday, May 9th. Truist Financial decreased their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.16.

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.