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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned a consensus rating of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $5.17.

TMCI has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings cut shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday.

Treace Medical Concepts Trading Down 6.1%

Shares of TMCI stock opened at $4.50 on Tuesday. The stock has a 50-day simple moving average of $4.32 and a 200 day simple moving average of $2.83. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The stock has a market capitalization of $292.68 million, a P/E ratio of -4.84 and a beta of 1.37. 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 results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. On average, sell-side analysts expect that Treace Medical Concepts will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John T. Treace acquired 61,202 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $3.02 per share, for a total transaction of $184,830.04. Following the transaction, the chief executive officer owned 7,273,833 shares of the company’s stock, valued at approximately $21,966,975.66. The trade was a 0.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 217,837 shares of company stock valued at $729,134 over the last quarter. 23.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently modified their holdings of TMCI. Bank of America Corp DE acquired a new stake in shares of Treace Medical Concepts during the second quarter worth $13,154,000. BlackRock Inc. acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $5,492,000. Gagnon Securities LLC boosted its position in shares of Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after purchasing an additional 852,337 shares during the period. Weber Capital Management LLC ADV purchased a new position in Treace Medical Concepts in the 4th quarter worth about $1,445,000. Finally, Gagnon Advisors LLC increased its stake in Treace Medical Concepts by 58.4% in the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after purchasing an additional 565,570 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.