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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned a consensus rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.17.

TMCI has been the subject of several research analyst reports. Truist Financial increased their price objective on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th.

Insider Activity

In other Treace Medical Concepts news, CEO John Treace purchased 39,944 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average cost of $4.44 per share, with a total value of $177,351.36. Following the transaction, the chief executive officer directly owned 7,388,383 shares in the company, valued at approximately $32,804,420.52. The trade was a 0.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 55,944 shares of company stock valued at $246,841. 23.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors have recently modified their holdings of TMCI. Hsbc Holdings PLC grew its stake in shares of Treace Medical Concepts by 26.8% in 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. Chicago Partners Investment Group LLC raised its holdings in shares of Treace Medical Concepts by 34.0% during the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after purchasing an additional 6,606 shares during the last quarter. Two Sigma Securities LLC bought a new position in Treace Medical Concepts during the second quarter valued at approximately $47,000. HBK Sorce Advisory LLC bought a new position in Treace Medical Concepts during the second quarter valued at approximately $77,000. Finally, AXQ Capital LP purchased a new stake in Treace Medical Concepts in the fourth quarter worth approximately $42,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI opened at $4.39 on Wednesday. The stock has a market cap of $285.53 million, a P/E ratio of -4.72 and a beta of 1.48. 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 business’s 50-day moving average price is $4.55 and its two-hundred day moving average price is $3.47. Treace Medical Concepts has a twelve month low of $1.17 and a twelve month high of $7.08.

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, beating the consensus estimate of ($0.30) by $0.06. The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. As a group, equities analysts predict that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc is a medical device company focused on surgical solutions for bunion correction and other forefoot conditions. The company’s products are designed to address the underlying structural causes of bunions and support orthopedic and podiatric surgeons during corrective procedures.

Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is intended to correct the three-dimensional alignment of the bones associated with a bunion and help provide stability during healing.