Treace Medical Concepts (NASDAQ:TMCI) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.40 and traded as high as $5.22. Treace Medical Concepts shares last traded at $4.78, with a volume of 1,094,529 shares trading hands.

Analyst Upgrades and Downgrades

TMCI has been the topic of a number of recent research reports. Weiss Ratings raised Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Stifel Nicolaus raised Treace Medical Concepts from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.50 to $6.50 in a research note on Monday. UBS Group raised Treace Medical Concepts from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, Truist Financial raised their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.17.

Treace Medical Concepts Price Performance

The stock has a market cap of $310.89 million, a P/E ratio of -5.56 and a beta of 1.59. The company’s 50 day moving average price is $4.40 and its 200-day moving average price is $3.29. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, November 6th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.06. The company had revenue of $48.25 million for the quarter, compared to analysts’ expectations of $47.80 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. As a group, sell-side analysts expect that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Treace purchased 39,944 shares of Treace Medical Concepts stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $4.44 per share, for a total transaction of $177,351.36. Following the transaction, the chief executive officer owned 7,388,383 shares of the company’s stock, valued at approximately $32,804,420.52. This represents a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders bought 55,944 shares of company stock worth $246,841. 23.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gagnon Securities LLC increased its position in Treace Medical Concepts by 12.8% during the 3rd quarter. Gagnon Securities LLC now owns 3,415,918 shares of the company’s stock valued at $15,167,000 after purchasing an additional 386,375 shares during the period. Squarepoint Ops LLC bought a new position in Treace Medical Concepts during the 2nd quarter worth approximately $282,000. Two Sigma Securities LLC acquired a new position in shares of Treace Medical Concepts in the 2nd quarter worth approximately $47,000. Hsbc Holdings PLC lifted its position in shares of Treace Medical Concepts by 74.8% in the 2nd quarter. Hsbc Holdings PLC now owns 54,170 shares of the company’s stock worth $213,000 after purchasing an additional 23,176 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Treace Medical Concepts in the 2nd quarter worth approximately $106,000. 84.08% of the stock is owned by institutional investors and hedge funds.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of bunion deformities and other conditions affecting the foot and ankle. The company’s technologies are designed to address the underlying structural causes of bunions and support more stable correction than traditional surgical approaches.

Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is used by foot and ankle surgeons to correct bunions in three dimensions.