Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Rating of “Reduce” by Brokerages

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

A number of equities research analysts recently weighed in on TMCI shares. Lake Street Capital reduced their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $3.56 per share, with a total value of $178,000.00. Following the completion of the acquisition, the chief executive officer owned 7,323,833 shares of the company’s stock, valued at approximately $26,072,845.48. This represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 319,283 shares of company stock valued at $894,029 over the last three months. 23.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after buying an additional 2,362 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the period. Parkman Healthcare Partners LLC increased its stake in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after acquiring an additional 3,677 shares during the period. Barclays PLC increased its stake in shares of Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after acquiring an additional 6,077 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

Shares of TMCI opened at $3.60 on Thursday. Treace Medical Concepts has a 1-year low of $1.17 and a 1-year high of $7.78. The stock has a market cap of $233.53 million, a PE ratio of -3.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The firm has a fifty day moving average price of $2.03 and a 200 day moving average price of $2.24.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. As a group, sell-side analysts anticipate that Treace Medical Concepts will post -0.88 EPS for the current year.

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.