Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $4.97 Average Price Target from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $4.97.

TMCI has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Truist Financial boosted their price objective on shares of Treace Medical Concepts from $2.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, July 16th.

Treace Medical Concepts Stock Up 2.0%

Treace Medical Concepts stock opened at $4.05 on Friday. The firm has a market cap of $262.72 million, a price-to-earnings ratio of -4.18 and a beta of 1.37. The stock has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $2.62. Treace Medical Concepts has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72.

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

Insider Transactions at Treace Medical Concepts

In related news, CEO John T. Treace bought 22,887 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $4.04 per share, with a total value of $92,463.48. Following the transaction, the chief executive officer owned 7,376,150 shares in the company, valued at approximately $29,799,646. This trade represents a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 371,600 shares of company stock valued at $1,104,801 in the last 90 days. Company insiders own 23.42% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Graham Capital Management L.P. purchased a new stake in Treace Medical Concepts during the fourth quarter valued at $27,000. Osaic Holdings Inc. boosted its position in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares during the last quarter. HighTower Advisors LLC purchased a new position in Treace Medical Concepts in the fourth quarter worth about $33,000. Chicago Partners Investment Group LLC grew its stake in shares of Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after purchasing an additional 6,606 shares during the period. Finally, Balance Wealth LLC bought a new position in Treace Medical Concepts in the fourth quarter worth approximately $37,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

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.