Treace Medical Concepts (NASDAQ:TMCI) Releases Earnings Results, Meets Estimates

Treace Medical Concepts (NASDAQ:TMCI) issued its quarterly earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30), Briefing.com reports. Treace Medical Concepts had a negative return on equity of 33.96% and a negative net margin of 26.47%. The company had revenue of $51.11 million for the quarter, compared to analysts’ expectations of $49.07 million. During the same quarter last year, the business earned ($0.23) earnings per share. Treace Medical Concepts’s revenue was up 21.1% on a year-over-year basis.

Treace Medical Concepts Trading Down 0.8 %

TMCI opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.40 and a quick ratio of 3.76. Treace Medical Concepts has a fifty-two week low of $5.27 and a fifty-two week high of $27.70. The company’s 50 day moving average price is $12.00 and its two-hundred day moving average price is $11.73. The firm has a market capitalization of $686.77 million, a price-to-earnings ratio of -13.73 and a beta of 0.37.

Wall Street Analysts Forecast Growth

TMCI has been the topic of a number of recent analyst reports. Truist Financial cut Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their price target for the stock from $17.00 to $7.00 in a research report on Wednesday. BTIG Research cut Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research report on Wednesday. Stifel Nicolaus cut Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $6.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. downgraded Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.93.

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.