Gagnon Securities LLC Acquires 852,337 Shares of Treace Medical Concepts, Inc. $TMCI

Gagnon Securities LLC increased its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,110,575 shares of the company’s stock after acquiring an additional 852,337 shares during the period. Treace Medical Concepts makes up 1.6% of Gagnon Securities LLC’s investment portfolio, making the stock its 23rd largest holding. Gagnon Securities LLC owned about 4.88% of Treace Medical Concepts worth $7,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares in the last quarter. Osaic Holdings Inc. lifted its stake 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 worth $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in shares of Treace Medical Concepts by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after buying an additional 3,677 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Treace Medical Concepts by 5.1% in the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock worth $958,000 after buying an additional 7,898 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Treace Medical Concepts by 12.6% in the third quarter. Rhumbline Advisers now owns 79,531 shares of the company’s stock worth $534,000 after buying an additional 8,893 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Up 3.8%

Shares of TMCI stock opened at $4.06 on Friday. The company has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $2.30. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The stock has a market cap of $263.37 million, a P/E ratio of -4.19 and a beta of 1.40. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. On average, research analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

TMCI has been the subject of several research reports. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital decreased their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Treace Medical Concepts presently has an average rating of “Reduce” and an average price target of $4.77.

Insider Activity

In other news, CEO John T. Treace acquired 22,887 shares of Treace Medical Concepts stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $4.04 per share, with a total value of $92,463.48. Following the completion of the purchase, the chief executive officer directly owned 7,376,150 shares in the company, valued at approximately $29,799,646. This trade represents a 0.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 371,600 shares of company stock valued at $1,104,801 over the last three months. Corporate insiders own 23.42% of the company’s stock.

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.