Treace Medical Concepts (NASDAQ:TMCI) Announces Quarterly Earnings Results

Treace Medical Concepts (NASDAQ:TMCI) posted its earnings results on Thursday. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02, Zacks reports. The business had revenue of $50.21 million for the quarter, compared to analyst estimates of $49.60 million. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%. Treace Medical Concepts updated its FY 2025 guidance to EPS.

Treace Medical Concepts Stock Down 37.4%

NASDAQ:TMCI traded down $2.33 on Friday, hitting $3.90. The stock had a trading volume of 4,124,929 shares, compared to its average volume of 384,401. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.51 and a current ratio of 3.52. The stock has a market cap of $246.43 million, a P/E ratio of -4.96 and a beta of 0.68. The firm’s fifty day simple moving average is $6.71 and its two-hundred day simple moving average is $6.43. Treace Medical Concepts has a 1 year low of $3.40 and a 1 year high of $10.79.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TMCI. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, October 8th. Truist Financial reduced their target price on Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday. UBS Group reissued a “neutral” rating and set a $6.50 target price (down previously from $8.60) on shares of Treace Medical Concepts in a research note on Friday, August 8th. Finally, Stifel Nicolaus reduced their price target on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $9.17.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY bought a new stake in Treace Medical Concepts in the second quarter worth $1,577,000. Millennium Management LLC increased its stake in Treace Medical Concepts by 35.3% in the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after purchasing an additional 116,114 shares during the period. Marshall Wace LLP boosted its stake in shares of Treace Medical Concepts by 256.2% during the second quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock valued at $799,000 after purchasing an additional 97,729 shares during the period. AQR Capital Management LLC purchased a new position in shares of Treace Medical Concepts in the first quarter valued at about $491,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Treace Medical Concepts by 133,241.9% during the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock worth $243,000 after purchasing an additional 41,305 shares during the period. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

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.