Weber Capital Management LLC ADV Takes $2.35 Billion Position in Treace Medical Concepts, Inc. $TMCI

Weber Capital Management LLC ADV bought a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 589,617 shares of the company’s stock, valued at approximately $2,346,676,000. Treace Medical Concepts comprises 2.0% of Weber Capital Management LLC ADV’s portfolio, making the stock its 10th biggest position. Weber Capital Management LLC ADV owned approximately 0.91% of Treace Medical Concepts as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after purchasing an additional 2,362 shares during the last quarter. Osaic Holdings Inc. grew 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 valued at $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC grew 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 valued at $5,688,000 after buying an additional 3,677 shares in the last quarter. Barclays PLC increased its holdings in Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after buying an additional 6,077 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TMCI has been the subject of a number of recent analyst reports. 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. Truist Financial upped their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings cut Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $4.34 on Monday. The business has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $2.89. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.78. The company has a market capitalization of $282.27 million, a price-to-earnings ratio of -4.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95.

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

Insider Activity at Treace Medical Concepts

In related news, CEO John T. Treace purchased 22,887 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $4.04 per share, for a total transaction of $92,463.48. Following the purchase, the chief executive officer owned 7,376,150 shares in the company, valued at approximately $29,799,646. This represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 217,837 shares of company stock worth $729,134. Insiders own 23.42% of the company’s stock.

Treace Medical Concepts 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.