Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given an average rating of “Reduce” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.97.

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. 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. Finally, Truist Financial increased their target price on Treace Medical Concepts from $2.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, July 16th.

Insider Activity

In other news, CEO John T. Treace bought 22,887 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $4.04 per share, with a total value of $92,463.48. Following the completion of the purchase, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at $29,799,646. This represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 371,600 shares of company stock worth $1,104,801. Corporate insiders own 23.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMCI. Graham Capital Management L.P. acquired a new stake in Treace Medical Concepts in the 4th quarter valued at about $27,000. Osaic Holdings Inc. increased its position in Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after buying an additional 3,674 shares during the last quarter. HighTower Advisors LLC acquired a new position in Treace Medical Concepts during the fourth quarter worth approximately $33,000. Chicago Partners Investment Group LLC raised its stake in Treace Medical Concepts by 34.0% in the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after buying an additional 6,606 shares during the period. Finally, Balance Wealth LLC bought a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $37,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $4.23 on Friday. The company has a market cap of $274.40 million, a price-to-earnings ratio of -4.36 and a beta of 1.37. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $3.80 and its 200 day simple moving average is $2.60. Treace Medical Concepts has a 12-month low of $1.17 and a 12-month high of $7.78.

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

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.