Rhumbline Advisers Boosts Stake in Treace Medical Concepts, Inc. $TMCI

Rhumbline Advisers raised its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 5.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,916 shares of the company’s stock after purchasing an additional 3,843 shares during the quarter. Rhumbline Advisers owned 0.11% of Treace Medical Concepts worth $587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parkman Healthcare Partners LLC purchased a new stake in Treace Medical Concepts in the first quarter valued at $5,987,000. Nuveen Asset Management LLC raised its position in Treace Medical Concepts by 11.4% in the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company’s stock valued at $3,518,000 after purchasing an additional 48,525 shares during the period. Driehaus Capital Management LLC purchased a new stake in Treace Medical Concepts in the first quarter valued at $3,929,000. Millennium Management LLC raised its position in Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after purchasing an additional 116,114 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Treace Medical Concepts by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 380,411 shares of the company’s stock valued at $3,192,000 after purchasing an additional 30,901 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $6.50 price objective (down previously from $8.60) on shares of Treace Medical Concepts in a report on Friday, August 8th. Stifel Nicolaus cut their price objective on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, August 8th. Finally, Truist Financial boosted their price objective on Treace Medical Concepts from $6.60 to $8.00 and gave the company a “hold” rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.83.

Treace Medical Concepts Trading Up 0.1%

NASDAQ:TMCI opened at $6.90 on Tuesday. The stock has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $6.71. The stock has a market cap of $435.87 million, a P/E ratio of -8.73 and a beta of 0.71. Treace Medical Concepts, Inc. has a 1 year low of $4.54 and a 1 year high of $10.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.51 and a current ratio of 3.52.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. The business had revenue of $47.39 million during the quarter, compared to analysts’ expectations of $47.08 million. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%. Treace Medical Concepts has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Treace Medical Concepts Company 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.