Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $4.77 Consensus PT from Brokerages

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

A number of equities analysts have recently commented on the stock. Lake Street Capital decreased their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th.

Treace Medical Concepts Stock Performance

NASDAQ TMCI opened at $4.46 on Monday. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The stock has a market capitalization of $289.32 million, a PE ratio of -4.60 and a beta of 1.39. The company’s 50 day simple moving average is $2.97 and its two-hundred day simple moving average is $2.39.

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

Insider Activity at Treace Medical Concepts

In related news, CEO John T. Treace purchased 61,750 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $2.62 per share, with a total value of $161,785.00. Following the acquisition, the chief executive officer directly owned 7,158,313 shares of the company’s stock, valued at approximately $18,754,780.06. This represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 900,071 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Treace Medical Concepts in the 1st quarter worth $701,000. Sei Investments Co. purchased a new position in Treace Medical Concepts in the 1st quarter worth $81,000. State of Wyoming raised its position in Treace Medical Concepts by 316.8% in the 1st quarter. State of Wyoming now owns 95,110 shares of the company’s stock worth $127,000 after purchasing an additional 72,290 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Treace Medical Concepts by 34.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after purchasing an additional 6,606 shares during the period. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

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.