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

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

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased 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 upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital decreased their price target on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd.

Treace Medical Concepts Trading Up 2.8%

TMCI opened at $1.86 on Friday. The stock has a market capitalization of $120.50 million, a price-to-earnings ratio of -1.98 and a beta of 1.10. 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 twelve month low of $1.17 and a twelve month high of $7.78. The company has a 50-day simple moving average of $1.62 and a 200 day simple moving average of $2.77.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Friday, February 27th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The firm had revenue of $62.52 million for the quarter, compared to analyst estimates of $61.76 million. Treace Medical Concepts had a negative net margin of 27.74% and a negative return on equity of 59.91%. Analysts predict that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TMCI. AQR Capital Management LLC bought a new position in shares of Treace Medical Concepts in the first quarter worth about $491,000. Millennium Management LLC boosted its stake in shares of Treace Medical Concepts by 35.3% in the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after purchasing an additional 116,114 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Treace Medical Concepts by 133,241.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock valued at $243,000 after purchasing an additional 41,305 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after purchasing an additional 2,362 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Treace Medical Concepts by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock worth $799,000 after purchasing an additional 97,729 shares in 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.