Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock Has Average Price Target of $5.17 According to Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average rating of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two 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 12-month price objective among brokerages that have covered the stock in the last year is $5.17.

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Truist Financial upped their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Monday, August 10th.

Treace Medical Concepts Stock Up 4.8%

TMCI opened at $5.06 on Friday. The business has a 50 day moving average price of $4.43 and a two-hundred day moving average price of $3.24. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $329.10 million, a PE ratio of -5.44 and a beta of 1.48. Treace Medical Concepts has a 52 week low of $1.17 and a 52 week high of $6.65.

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

Insider Buying and Selling at Treace Medical Concepts

In other news, CEO John Treace bought 11,000 shares of the stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $4.34 per share, with a total value of $47,740.00. Following the completion of the acquisition, the chief executive officer directly owned 7,404,383 shares in the company, valued at approximately $32,135,022.22. The trade was a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 55,944 shares of company stock valued at $246,841 over the last quarter. 23.42% of the stock is owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new stake in shares of Treace Medical Concepts in the 2nd quarter valued at approximately $47,000. HBK Sorce Advisory LLC purchased a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $77,000. Chicago Partners Investment Group LLC boosted its stake in shares of Treace Medical Concepts by 34.0% in the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after buying an additional 6,606 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Treace Medical Concepts during the second quarter worth $106,000. Finally, Hsbc Holdings PLC grew its holdings in Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of bunion deformities and other conditions affecting the foot and ankle. The company’s technologies are designed to address the underlying structural causes of bunions and support more stable correction than traditional surgical approaches.

Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is used by foot and ankle surgeons to correct bunions in three dimensions.