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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given an average rating of “Reduce” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $4.77.

Several research firms have recently issued reports on TMCI. Lake Street Capital decreased their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Wall Street Zen cut shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Finally, Truist Financial cut their target price on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, December 18th.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in TMCI. CIBC Bancorp USA Inc. bought a new position in Treace Medical Concepts during the third quarter worth about $122,199,000. Armistice Capital LLC grew its stake in Treace Medical Concepts by 0.8% in the fourth quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock valued at $15,592,000 after acquiring an additional 48,000 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after acquiring an additional 534,486 shares in the last quarter. Gagnon Securities LLC increased its holdings in shares of Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after acquiring an additional 852,337 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Treace Medical Concepts by 12.7% during the third quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock worth $11,475,000 after purchasing an additional 192,929 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Stock Up 8.1%

NASDAQ:TMCI opened at $1.46 on Friday. The company has a quick ratio of 3.13, a current ratio of 4.31 and a debt-to-equity ratio of 0.64. Treace Medical Concepts has a 12-month low of $1.31 and a 12-month high of $8.87. The stock’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $4.03. The firm has a market capitalization of $94.30 million, a P/E ratio of -1.55 and a beta of 0.77.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative return on equity of 59.91% and a negative net margin of 27.74%.The business had revenue of $62.52 million during the quarter, compared to the consensus estimate of $61.76 million. Equities research analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current 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.