Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of “Reduce” from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given a consensus rating of “Reduce” by the seven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $4.77.

A number of equities analysts have issued reports on TMCI shares. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital lowered their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd.

Treace Medical Concepts Price Performance

TMCI stock opened at $3.40 on Thursday. The stock has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $2.25. The stock has a market cap of $220.56 million, a PE ratio of -3.51 and a beta of 1.40. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. Equities analysts forecast that Treace Medical Concepts will post -0.88 EPS for the current fiscal year.

Insider Transactions at Treace Medical Concepts

In other news, CEO John T. Treace bought 61,750 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $2.62 per share, for a total transaction of $161,785.00. Following the acquisition, the chief executive officer owned 7,158,313 shares in the company, valued at approximately $18,754,780.06. This trade represents a 0.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders bought 319,283 shares of company stock worth $894,029. 23.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $122,199,000. Acuitas Investments LLC bought a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $2,020,000. Weber Capital Management LLC ADV bought a new position in shares of Treace Medical Concepts in the 4th quarter valued at about $1,445,000. William Blair Investment Management LLC grew its holdings in shares of Treace Medical Concepts by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after acquiring an additional 534,486 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Treace Medical Concepts by 36.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock valued at $8,313,000 after acquiring an additional 330,866 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company 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.