Treace Medical Concepts (NASDAQ:TMCI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Treace Medical Concepts (NASDAQ:TMCI) released its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02, Zacks reports. The firm had revenue of $50.21 million during the quarter, compared to analysts’ expectations of $49.60 million. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 47.60%. Treace Medical Concepts updated its FY 2025 guidance to EPS.

Treace Medical Concepts Price Performance

TMCI traded down $1.76 during trading hours on Friday, hitting $4.47. The company’s stock had a trading volume of 6,677,718 shares, compared to its average volume of 247,231. The business’s 50-day moving average price is $6.65 and its 200-day moving average price is $6.41. Treace Medical Concepts has a 12 month low of $3.40 and a 12 month high of $10.79. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The stock has a market cap of $282.38 million, a price-to-earnings ratio of -5.59 and a beta of 0.68.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. UBS Group lowered their price objective on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a research report on Friday. Wall Street Zen cut shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Truist Financial dropped their price target on shares of Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Treace Medical Concepts presently has a consensus rating of “Reduce” and an average target price of $9.06.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently bought and sold shares of TMCI. Millennium Management LLC raised its position in Treace Medical Concepts by 35.3% in the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after purchasing an additional 116,114 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in Treace Medical Concepts during the second quarter worth $1,577,000. BNP Paribas Financial Markets boosted its position in Treace Medical Concepts by 5.1% during the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock valued at $958,000 after purchasing an additional 7,898 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Treace Medical Concepts by 256.2% in the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock valued at $799,000 after buying an additional 97,729 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Treace Medical Concepts by 53.0% in the second quarter. Bank of America Corp DE now owns 72,573 shares of the company’s stock worth $427,000 after purchasing an additional 25,130 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.