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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned a consensus recommendation of “Reduce” from the seven research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.77.

A number of brokerages have recently issued reports on TMCI. Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Lake Street Capital decreased their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.19 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.78. The stock has a market capitalization of $271.81 million, a P/E ratio of -4.32 and a beta of 1.39. The stock has a 50-day simple moving average of $2.74 and a 200-day simple moving average of $2.33.

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

Insider Activity

In other news, CEO John T. Treace bought 22,887 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $92,463.48. Following the acquisition, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at $29,799,646. This trade represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 371,600 shares of company stock worth $1,104,801. 23.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. acquired a new position in Treace Medical Concepts during the 3rd quarter worth approximately $122,199,000. Weber Capital Management LLC ADV acquired a new position in Treace Medical Concepts during the 4th quarter worth approximately $1,445,000. William Blair Investment Management LLC lifted its position 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 worth $24,387,000 after acquiring an additional 534,486 shares in the last quarter. GSA Capital Partners LLP lifted its position in Treace Medical Concepts by 212.5% during the 4th quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock worth $852,000 after acquiring an additional 236,477 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Treace Medical Concepts by 36.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock worth $8,313,000 after acquiring an additional 330,866 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

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.