Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Recommendation of “Reduce” from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average rating of “Reduce” from the seven analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.97.

A number of brokerages recently weighed in on TMCI. Truist Financial raised their price objective on Treace Medical Concepts from $2.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday. Weiss Ratings upgraded 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 research report on Saturday, June 20th.

Insider Activity

In other news, CEO John T. Treace acquired 61,750 shares of Treace Medical Concepts stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $2.62 per share, for a total transaction of $161,785.00. Following the purchase, the chief executive officer directly owned 7,158,313 shares in the company, valued at $18,754,780.06. The trade was a 0.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. purchased a new position in Treace Medical Concepts in the fourth quarter worth $27,000. Osaic Holdings Inc. lifted its holdings in shares of Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after purchasing an additional 3,674 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts during the 4th quarter valued at $33,000. Chicago Partners Investment Group LLC boosted its position in shares of 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 in the last quarter. Finally, Balance Wealth LLC acquired a new stake in shares of Treace Medical Concepts in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Up 0.7%

Treace Medical Concepts stock opened at $4.43 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The firm has a market cap of $287.37 million, a P/E ratio of -4.57 and a beta of 1.37. The business has a fifty day moving average of $3.66 and a two-hundred day moving average of $2.56. Treace Medical Concepts has a twelve month low of $1.17 and a twelve month high of $7.78.

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

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.