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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.77.

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

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $1.46 on Friday. The business has a fifty day moving average of $2.16 and a 200-day moving average of $4.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.13 and a current ratio of 4.31. Treace Medical Concepts has a twelve month low of $1.31 and a twelve month high of $8.87. The firm has a market cap of $94.30 million, a PE ratio of -1.55 and a beta of 0.77.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative net margin of 27.74% and a negative return on equity of 59.91%. The firm had revenue of $62.52 million for the quarter, compared to analyst estimates of $61.76 million. On average, equities research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth approximately $122,199,000. Gagnon Securities LLC lifted its holdings in Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after buying an additional 852,337 shares during the period. Weber Capital Management LLC ADV bought a new position in Treace Medical Concepts in the fourth quarter valued at approximately $1,445,000. Gagnon Advisors LLC boosted its stake in Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after acquiring an additional 565,570 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in Treace Medical Concepts during the 2nd quarter worth $3,309,000. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

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.