William Blair Investment Management LLC Acquires 546,787 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

William Blair Investment Management LLC grew its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 22.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,938,848 shares of the company’s stock after buying an additional 546,787 shares during the period. William Blair Investment Management LLC’s holdings in Treace Medical Concepts were worth $21,865,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Treace Medical Concepts by 2.0% during the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after buying an additional 1,300 shares in the last quarter. Wolverine Trading LLC boosted its holdings in shares of Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after buying an additional 1,946 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Treace Medical Concepts by 10.2% during the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock worth $186,000 after buying an additional 2,314 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Treace Medical Concepts by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company’s stock worth $937,000 after buying an additional 3,215 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Treace Medical Concepts by 20.4% during the 4th quarter. SG Americas Securities LLC now owns 28,404 shares of the company’s stock worth $211,000 after buying an additional 4,813 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMCI has been the topic of a number of research analyst reports. Lake Street Capital assumed coverage on Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target on the stock. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, February 4th. Truist Financial lowered their target price on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Treace Medical Concepts presently has a consensus rating of “Hold” and an average price target of $10.14.

Treace Medical Concepts Trading Up 5.8 %

NASDAQ TMCI opened at $8.43 on Wednesday. The firm has a market capitalization of $527.88 million, a P/E ratio of -8.52 and a beta of 0.77. The business has a fifty day simple moving average of $9.17 and a 200 day simple moving average of $7.43. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $13.24. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts Company 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.