Treace Medical Concepts, Inc. (NASDAQ:TMCI) Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC trimmed its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 0.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,767,933 shares of the company’s stock after selling 2,230 shares during the period. Treace Medical Concepts comprises approximately 2.6% of Gagnon Securities LLC’s investment portfolio, making the stock its 14th largest position. Gagnon Securities LLC’s holdings in Treace Medical Concepts were worth $13,153,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TMCI. Renaissance Technologies LLC grew its holdings in Treace Medical Concepts by 16.4% during the 2nd quarter. Renaissance Technologies LLC now owns 206,500 shares of the company’s stock valued at $1,373,000 after purchasing an additional 29,100 shares in the last quarter. Marshall Wace LLP boosted its stake in Treace Medical Concepts by 65.9% during the 2nd quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after acquiring an additional 183,921 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Treace Medical Concepts by 300.6% during the 2nd quarter. Squarepoint Ops LLC now owns 118,047 shares of the company’s stock valued at $785,000 after acquiring an additional 88,577 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Treace Medical Concepts by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock valued at $135,000 after acquiring an additional 2,160 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Treace Medical Concepts by 178.8% during the 2nd quarter. Algert Global LLC now owns 162,536 shares of the company’s stock valued at $1,081,000 after acquiring an additional 104,236 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $10.05 on Friday. The firm’s 50-day moving average is $8.11 and its 200-day moving average is $6.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $15.98.

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

Analyst Ratings Changes

TMCI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Truist Financial increased their price objective 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. 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 research note on Wednesday, November 6th. Finally, Lake Street Capital started coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.98.

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.