Gagnon Securities LLC Raises Holdings in Treace Medical Concepts, Inc. $TMCI

Gagnon Securities LLC grew its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 37.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,110,575 shares of the company’s stock after buying an additional 852,337 shares during the quarter. Treace Medical Concepts accounts for approximately 1.6% of Gagnon Securities LLC’s investment portfolio, making the stock its 23rd largest holding. Gagnon Securities LLC’s holdings in Treace Medical Concepts were worth $7,621,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. boosted its stake in Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the last quarter. Captrust Financial Advisors bought a new position in Treace Medical Concepts during the second quarter valued at approximately $62,000. Mercer Global Advisors Inc. ADV bought a new position in Treace Medical Concepts during the third quarter valued at approximately $87,000. HighTower Advisors LLC bought a new position in Treace Medical Concepts during the fourth quarter valued at approximately $33,000. Finally, Invesco Ltd. boosted its stake in Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after buying an additional 2,362 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Treace Medical Concepts Price Performance

TMCI stock opened at $4.06 on Friday. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $2.30. The firm has a market capitalization of $263.37 million, a P/E ratio of -4.19 and a beta of 1.40.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million during the quarter, compared to analyst estimates of $45.96 million. Analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John T. Treace bought 22,887 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $4.04 per share, for a total transaction of $92,463.48. Following the acquisition, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at $29,799,646. The trade was a 0.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is currently owned by company insiders.

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.