Treace Medical Concepts (NASDAQ:TMCI) Stock Price Expected to Rise, Truist Financial Analyst Says

Treace Medical Concepts (NASDAQ:TMCI) had its price target hoisted by stock analysts at Truist Financial from $4.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 10.13% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. 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. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts Stock Performance

TMCI traded down $0.22 during trading hours on Monday, reaching $4.54. The company’s stock had a trading volume of 405,724 shares, compared to its average volume of 764,681. Treace Medical Concepts has a 52 week low of $1.17 and a 52 week high of $7.78. The company’s 50-day moving average is $4.18 and its 200-day moving average is $2.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The firm has a market cap of $294.51 million, a PE ratio of -4.93 and a beta of 1.37.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 67.82% and a negative net margin of 28.99%.The business had revenue of $45.38 million during the quarter, compared to the consensus estimate of $44.02 million. On average, equities analysts forecast that Treace Medical Concepts will post -0.88 EPS for the current year.

Insider Transactions at Treace Medical Concepts

In other news, CEO John T. Treace purchased 22,887 shares of Treace Medical Concepts stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $4.04 per share, for a total transaction of $92,463.48. Following the purchase, the chief executive officer directly owned 7,376,150 shares of the company’s stock, valued at $29,799,646. This trade represents a 0.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 371,600 shares of company stock valued at $1,104,801. Insiders own 23.42% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Treace Medical Concepts during the second quarter worth $5,492,000. Deutsche Bank AG acquired a new position in shares of Treace Medical Concepts in the second quarter valued at about $413,000. HBK Sorce Advisory LLC bought a new position in Treace Medical Concepts during the second quarter worth about $77,000. GSA Capital Partners LLP bought a new position in Treace Medical Concepts during the second quarter worth about $168,000. Finally, Bank of America Corp DE raised its stake in Treace Medical Concepts by 38.9% in the 1st quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock worth $4,307,000 after purchasing an additional 900,071 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.