Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Rating of “Reduce” by Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given a consensus rating of “Reduce” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $5.17.

Several equities analysts have issued reports on the stock. Truist Financial upped their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Monday. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th.

Treace Medical Concepts Stock Down 1.9%

TMCI stock opened at $4.67 on Tuesday. The stock has a market capitalization of $302.94 million, a P/E ratio of -5.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. Treace Medical Concepts has a 1-year low of $1.17 and a 1-year high of $7.78. The business has a fifty day moving average price of $4.20 and a 200-day moving average price of $2.76.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 67.82% and a negative net margin of 28.99%.The company had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Equities analysts forecast that Treace Medical Concepts will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John T. Treace bought 22,887 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $4.04 per share, for a total transaction of $92,463.48. Following the purchase, the chief executive officer owned 7,376,150 shares in the company, valued at approximately $29,799,646. This represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have purchased 328,600 shares of company stock valued at $1,011,491. Insiders own 23.42% of the company’s stock.

Institutional Trading of Treace Medical Concepts

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Treace Medical Concepts during the second quarter valued at $5,492,000. Deutsche Bank AG purchased a new position in Treace Medical Concepts in the second quarter worth about $413,000. HBK Sorce Advisory LLC bought a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at about $77,000. GSA Capital Partners LLP bought a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at about $168,000. Finally, Bank of America Corp DE increased its position in shares of Treace Medical Concepts by 38.9% during the 1st quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock valued at $4,307,000 after purchasing an additional 900,071 shares during the last quarter. 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.