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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have covered the stock in the last year is $12.86.

TMCI has been the topic of a number of research analyst reports. UBS Group cut Treace Medical Concepts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $6.50 in a research report on Thursday, May 16th. Morgan Stanley boosted their price objective on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Truist Financial raised their target price on shares of Treace Medical Concepts from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. BTIG Research downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus downgraded shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $6.00 in a research report on Wednesday, May 8th.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $7.72 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.42. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $23.33. The firm’s 50 day moving average is $6.46 and its two-hundred day moving average is $10.19. The firm has a market capitalization of $478.72 million, a P/E ratio of -8.77 and a beta of 0.22.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, meeting analysts’ consensus estimates of ($0.30). Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The firm had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. During the same period last year, the firm posted ($0.23) EPS. The company’s revenue was up 21.1% on a year-over-year basis. Research analysts forecast that Treace Medical Concepts will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Treace Medical Concepts news, Director Deepti Jain bought 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $4.50 per share, with a total value of $112,500.00. Following the purchase, the director now owns 31,235 shares in the company, valued at approximately $140,557.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard W. Mott purchased 12,100 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $4.99 per share, with a total value of $60,379.00. Following the purchase, the director now directly owns 1,054,944 shares in the company, valued at approximately $5,264,170.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deepti Jain purchased 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $4.50 per share, with a total value of $112,500.00. Following the acquisition, the director now directly owns 31,235 shares in the company, valued at $140,557.50. The disclosure for this purchase can be found here. Insiders purchased a total of 593,902 shares of company stock valued at $2,930,422 over the last three months. 24.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Treace Medical Concepts by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,189,582 shares of the company’s stock valued at $54,925,000 after acquiring an additional 155,835 shares during the last quarter. Armistice Capital LLC acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $36,414,000. TimesSquare Capital Management LLC increased its stake in shares of Treace Medical Concepts by 22.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock worth $22,301,000 after purchasing an additional 315,691 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Treace Medical Concepts by 5.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock worth $18,616,000 after purchasing an additional 76,030 shares during the last quarter. Finally, Norges Bank purchased a new stake in Treace Medical Concepts in the 4th quarter valued at approximately $8,725,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.