Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Recommendation of “Reduce” by Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given a consensus recommendation of “Reduce” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.3917.

Several equities analysts have commented on the company. UBS Group lowered their price objective on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a research report on Friday, November 7th. Wall Street Zen lowered shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Finally, Truist Financial cut their price objective on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, December 18th.

Treace Medical Concepts Stock Down 0.8%

TMCI stock opened at $2.42 on Monday. Treace Medical Concepts has a fifty-two week low of $2.36 and a fifty-two week high of $10.79. The company has a market capitalization of $154.20 million, a price-to-earnings ratio of -3.03 and a beta of 0.73. The business’s 50 day moving average price is $3.91 and its two-hundred day moving average price is $5.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, January 9th. The company reported ($0.22) EPS for the quarter. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. The firm had revenue of $33.06 million during the quarter. As a group, analysts forecast that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in TMCI. CIBC Bancorp USA Inc. purchased a new stake in shares of Treace Medical Concepts in the third quarter worth $122,199,000. Parkman Healthcare Partners LLC purchased a new stake in Treace Medical Concepts during the 1st quarter valued at about $5,987,000. CenterBook Partners LP purchased a new stake in Treace Medical Concepts during the 2nd quarter valued at about $3,309,000. William Blair Investment Management LLC increased its stake in Treace Medical Concepts by 17.2% during the 3rd quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after purchasing an additional 534,486 shares in the last quarter. Finally, Gagnon Securities LLC raised its holdings in Treace Medical Concepts by 28.8% in the second quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company’s stock worth $13,231,000 after buying an additional 503,612 shares during the last quarter. 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 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.