Treace Medical Concepts (NASDAQ:TMCI) Rating Increased to Hold at Wall Street Zen

Treace Medical Concepts (NASDAQ:TMCI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently weighed in on the stock. Lake Street Capital lowered their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Price Performance

TMCI opened at $4.19 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The stock has a market capitalization of $271.81 million, a P/E ratio of -4.32 and a beta of 1.40. The company’s 50-day simple moving average is $2.74 and its two-hundred day simple moving average is $2.34. Treace Medical Concepts has a 52-week low of $1.17 and a 52-week high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly 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 firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $45.96 million. As a group, analysts predict that Treace Medical Concepts will post -0.88 EPS for the current year.

Insider Activity at Treace Medical Concepts

In related news, CEO John T. Treace bought 22,887 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $4.04 per share, with a total value of $92,463.48. Following the acquisition, the chief executive officer owned 7,376,150 shares in the company, valued at $29,799,646. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 371,600 shares of company stock valued at $1,104,801. Corporate insiders own 23.42% of the company’s stock.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its position in Treace Medical Concepts by 328.3% in 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 in the last quarter. Captrust Financial Advisors purchased a new position in shares of Treace Medical Concepts during the 2nd quarter valued at about $62,000. Graham Capital Management L.P. purchased a new position in shares of Treace Medical Concepts during the 4th quarter valued at about $27,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $87,000. Finally, HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts during the 4th quarter valued at approximately $33,000. 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.