Treace Medical Concepts (NASDAQ:TMCI) Stock Price Expected to Rise, Truist Financial Analyst Says

Treace Medical Concepts (NASDAQ:TMCI) had its price target upped by stock analysts at Truist Financial from $2.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential downside of 6.98% from the stock’s current price.

A number of other brokerages also recently commented on TMCI. Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $4.97.

Treace Medical Concepts Price Performance

TMCI stock opened at $4.30 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The firm has a market capitalization of $278.94 million, a P/E ratio of -4.43 and a beta of 1.37. The business’s 50-day moving average is $3.71 and its two-hundred day moving average is $2.57. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts anticipate that Treace Medical Concepts will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In other news, CEO John T. Treace acquired 22,887 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $4.04 per share, for a total transaction of $92,463.48. Following the transaction, the chief executive officer directly owned 7,376,150 shares in the company, valued at approximately $29,799,646. This represents a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 371,600 shares of company stock worth $1,104,801 over the last three months. 23.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors have recently made changes to their positions in the stock. Weber Capital Management LLC ADV purchased a new position in Treace Medical Concepts in the 4th quarter valued at approximately $1,445,000. GSA Capital Partners LLP raised its holdings in Treace Medical Concepts by 212.5% during the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock worth $852,000 after purchasing an additional 236,477 shares during the last quarter. Gagnon Securities LLC boosted its position in Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after purchasing an additional 852,337 shares in the last quarter. Gagnon Advisors LLC boosted its position in Treace Medical Concepts by 58.4% during the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after purchasing an additional 565,570 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Treace Medical Concepts by 18.1% during the fourth quarter. First Eagle Investment Management LLC now owns 1,462,983 shares of the company’s stock worth $3,584,000 after purchasing an additional 224,088 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

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.