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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.21.

A number of equities analysts have issued reports on TMCI shares. Truist Financial cut shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their price objective for the company from $17.00 to $7.00 in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and cut their price target for the company from $15.00 to $8.00 in a report on Wednesday, May 8th. UBS Group downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $6.50 in a research report on Thursday, May 16th. BTIG Research lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus cut Treace Medical Concepts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $6.00 in a research note on Wednesday, May 8th.

Insider Buying and Selling at Treace Medical Concepts

In other news, CEO John T. Treace acquired 150,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $4.58 per share, for a total transaction of $687,000.00. Following the acquisition, the chief executive officer now directly owns 5,943,095 shares in the company, valued at $27,219,375.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Treace Medical Concepts news, CEO John T. Treace bought 150,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $4.58 per share, with a total value of $687,000.00. Following the transaction, the chief executive officer now owns 5,943,095 shares in the company, valued at $27,219,375.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Mott purchased 36,802 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $4.38 per share, for a total transaction of $161,192.76. Following the acquisition, the director now owns 1,027,753 shares in the company, valued at $4,501,558.14. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 593,902 shares of company stock worth $2,930,422. 24.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Treace Medical Concepts by 3,441.2% in the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after acquiring an additional 4,508 shares during the period. Quest Partners LLC bought a new stake in shares of Treace Medical Concepts during the 4th quarter valued at $68,000. Newbridge Financial Services Group Inc. grew its position in shares of Treace Medical Concepts by 100.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after acquiring an additional 3,567 shares during the period. RiverPark Advisors LLC raised its holdings in Treace Medical Concepts by 763.9% in the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after purchasing an additional 7,952 shares during the period. Finally, Trexquant Investment LP bought a new position in Treace Medical Concepts in the 4th quarter worth $132,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Trading Down 0.3 %

Shares of TMCI opened at $6.61 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $25.22. The firm has a 50 day moving average price of $6.67 and a 200-day moving average price of $10.72. The firm has a market cap of $409.87 million, a price-to-earnings ratio of -7.51 and a beta of 0.22.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The company had revenue of $51.11 million during the quarter, compared to analysts’ expectations of $49.07 million. During the same period in the prior year, the business posted ($0.23) EPS. Treace Medical Concepts’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that Treace Medical Concepts will post -0.89 earnings per share for the current year.

About Treace Medical Concepts

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.