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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.16.

A number of brokerages have recently commented on TMCI. UBS Group dropped their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating on the stock in a research note on Friday, May 9th. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, February 4th. Finally, Truist Financial dropped their price target on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research report on Friday, April 11th.

Treace Medical Concepts Price Performance

Shares of TMCI opened at $6.10 on Friday. The business’s 50-day moving average is $7.28 and its two-hundred day moving average is $8.05. The company has a market capitalization of $383.63 million, a P/E ratio of -6.16 and a beta of 0.79. Treace Medical Concepts has a fifty-two week low of $4.54 and a fifty-two week high of $10.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.07 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Research analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the transaction, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently bought and sold shares of TMCI. Acadian Asset Management LLC lifted its position in shares of Treace Medical Concepts by 66.9% during the first quarter. Acadian Asset Management LLC now owns 126,457 shares of the company’s stock worth $1,060,000 after purchasing an additional 50,669 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in Treace Medical Concepts during the 1st quarter worth approximately $5,987,000. Millennium Management LLC lifted its holdings in Treace Medical Concepts by 35.3% during the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after buying an additional 116,114 shares in the last quarter. AQR Capital Management LLC purchased a new position in Treace Medical Concepts in the 1st quarter valued at approximately $491,000. Finally, Birchview Capital LP grew its stake in shares of Treace Medical Concepts by 2.2% in the first quarter. Birchview Capital LP now owns 164,947 shares of the company’s stock worth $1,384,000 after acquiring an additional 3,597 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

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.