Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Recommendation of “Hold” by Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have covered the stock in the last year is $7.40.

TMCI has been the topic of several recent research reports. UBS Group upped their price objective on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial decreased their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $7.83 on Friday. The business’s 50-day simple moving average is $5.93 and its two-hundred day simple moving average is $6.14. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $15.98. The stock has a market cap of $487.81 million, a PE ratio of -7.91 and a beta of 0.24. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company had revenue of $45.09 million for the quarter, compared to the consensus estimate of $43.48 million. During the same period in the previous year, the firm posted ($0.28) EPS. Treace Medical Concepts’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Insider Activity at Treace Medical Concepts

In related news, CEO John T. Treace bought 50,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the purchase, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. The trade was a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.43% of the stock is owned by company insiders.

Institutional Trading of Treace Medical Concepts

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after purchasing an additional 4,508 shares in the last quarter. Quarry LP purchased a new position in shares of Treace Medical Concepts during the third quarter valued at $38,000. HighTower Advisors LLC bought a new stake in shares of Treace Medical Concepts in the third quarter valued at about $58,000. Nisa Investment Advisors LLC lifted its stake in Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after acquiring an additional 9,245 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Treace Medical Concepts by 243.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after acquiring an additional 7,522 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.