Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of “Reduce” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given a consensus recommendation of “Reduce” by the seven analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.17.

Several equities research analysts have weighed in on the company. Weiss Ratings raised Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Truist Financial lifted their target price on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th.

Treace Medical Concepts Price Performance

TMCI stock opened at $4.39 on Wednesday. Treace Medical Concepts has a 52 week low of $1.17 and a 52 week high of $7.08. The firm has a market capitalization of $285.53 million, a P/E ratio of -4.72 and a beta of 1.48. The company has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $3.48. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results 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 net margin of 28.99% and a negative return on equity of 71.37%. The firm had revenue of $45.38 million for the quarter, compared to the consensus estimate of $44.02 million. Analysts anticipate that Treace Medical Concepts will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Treace Medical Concepts

In other news, CEO John Treace acquired 11,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was bought at an average cost of $4.34 per share, with a total value of $47,740.00. Following the completion of the purchase, the chief executive officer directly owned 7,404,383 shares of the company’s stock, valued at $32,135,022.22. This represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 55,944 shares of company stock valued at $246,841 in the last ninety days. 23.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in shares of Treace Medical Concepts during the second quarter worth $47,000. HBK Sorce Advisory LLC bought a new position in shares of Treace Medical Concepts in the second quarter worth about $77,000. AXQ Capital LP bought a new position in shares of Treace Medical Concepts in the fourth quarter worth about $42,000. Chicago Partners Investment Group LLC increased its stake 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 buying an additional 6,606 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in Treace Medical Concepts in the 2nd quarter worth about $106,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company focused on advancing surgical treatment for bunions and other deformities of the big toe and forefoot. The company develops and commercializes medical devices, surgical instruments and procedure-based solutions designed to address the underlying structural causes of bunion deformities.

Its flagship offering is the Lapiplasty 3D Bunion Correction System, which is intended to correct bunions in three dimensions and stabilize the affected joint.