Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Rating of “Reduce” by Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.17.

A number of brokerages have recently weighed in on TMCI. Truist Financial upped their target price on Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th.

Treace Medical Concepts Stock Performance

TMCI opened at $4.79 on Tuesday. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The firm has a market cap of $311.54 million, a PE ratio of -5.15 and a beta of 1.37. The business has a fifty day simple moving average of $4.30 and a 200-day simple moving average of $2.82. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78.

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

Insider Buying and Selling

In other Treace Medical Concepts news, CEO John T. Treace bought 61,202 shares of Treace Medical Concepts stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $3.02 per share, for a total transaction of $184,830.04. Following the completion of the purchase, the chief executive officer directly owned 7,273,833 shares of the company’s stock, valued at $21,966,975.66. The trade was a 0.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 217,837 shares of company stock valued at $729,134 in the last 90 days. Corporate insiders own 23.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Weber Capital Management LLC ADV acquired a new stake in shares of Treace Medical Concepts in the fourth quarter worth $1,445,000. GSA Capital Partners LLP grew its stake in Treace Medical Concepts by 212.5% in the 4th quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock valued at $852,000 after buying an additional 236,477 shares during the last quarter. Gagnon Advisors LLC raised its holdings in Treace Medical Concepts by 58.4% in the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after acquiring an additional 565,570 shares during the period. Gagnon Securities LLC raised its holdings in Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after acquiring an additional 852,337 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Treace Medical Concepts by 18.1% during the 4th quarter. First Eagle Investment Management LLC now owns 1,462,983 shares of the company’s stock worth $3,584,000 after acquiring an additional 224,088 shares during the last quarter. Institutional investors and hedge funds 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.