First Eagle Investment Management LLC Buys 409,105 Shares of Treace Medical Concepts, Inc. $TMCI

First Eagle Investment Management LLC increased its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 82.0% in the 2nd quarter, Holdings Channel reports. The firm owned 908,029 shares of the company’s stock after buying an additional 409,105 shares during the period. First Eagle Investment Management LLC’s holdings in Treace Medical Concepts were worth $5,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMCI. Nuveen LLC purchased a new stake in Treace Medical Concepts in the first quarter worth approximately $2,120,000. Arcadia Wealth Management Inc. bought a new position in shares of Treace Medical Concepts during the 1st quarter valued at $1,762,000. Acadian Asset Management LLC lifted its holdings in shares of Treace Medical Concepts by 66.9% during the 1st quarter. Acadian Asset Management LLC now owns 126,457 shares of the company’s stock valued at $1,060,000 after buying an additional 50,669 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of Treace Medical Concepts in the 1st quarter worth $5,987,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Treace Medical Concepts in the 1st quarter worth $3,929,000. Institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TMCI shares. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a report on Friday. Wall Street Zen downgraded shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. One equities research 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. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $9.06.

Treace Medical Concepts Stock Down 28.3%

NASDAQ TMCI opened at $4.47 on Friday. Treace Medical Concepts, Inc. has a 12 month low of $3.40 and a 12 month high of $10.79. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The stock has a market cap of $282.37 million, a PE ratio of -5.59 and a beta of 0.68. The stock’s 50 day moving average is $6.65 and its 200 day moving average is $6.41.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, January 9th. The company reported ($0.22) earnings per share for the quarter. The firm had revenue of $33.06 million for the quarter. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 47.60%. Research analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Treace Medical Concepts 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.