Ieq Capital LLC Makes New Investment in Treace Medical Concepts, Inc. $TMCI

Ieq Capital LLC bought a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the second quarter, HoldingsChannel reports. The institutional investor bought 109,762 shares of the company’s stock, valued at approximately $437,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Treace Medical Concepts during the 2nd quarter worth $5,492,000. Bank of America Corp DE lifted its holdings in shares of Treace Medical Concepts by 38.9% in the 1st quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock worth $4,307,000 after buying an additional 900,071 shares during the period. Gagnon Securities LLC lifted its holdings in shares of Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after buying an additional 852,337 shares during the period. Gagnon Advisors LLC grew its position in shares of Treace Medical Concepts by 58.4% during the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after buying an additional 565,570 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Treace Medical Concepts during the 1st quarter worth $701,000. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $4.65 on Friday. Treace Medical Concepts, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $7.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.95 and a current ratio of 2.90. The company has a market cap of $302.44 million, a PE ratio of -5.00 and a beta of 1.37. The business has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $2.98.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. The firm had revenue of $45.38 million during the quarter, compared to analyst estimates of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. As a group, equities analysts expect that Treace Medical Concepts, Inc. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Treace Medical Concepts

In related news, CEO John T. Treace purchased 50,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $3.56 per share, with a total value of $178,000.00. Following the completion of the acquisition, the chief executive officer owned 7,323,833 shares in the company, valued at approximately $26,072,845.48. This represents a 0.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 158,261 shares of company stock worth $635,613. Corporate insiders own 23.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TMCI. Weiss Ratings cut shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Truist Financial upped their price target on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $5.17.

Treace Medical Concepts Company Profile

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.