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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $7.30.

A number of equities research analysts have commented on TMCI shares. Truist Financial decreased their price target on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. UBS Group boosted their target price on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their price target on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th.

Treace Medical Concepts Trading Down 2.1 %

TMCI opened at $5.01 on Tuesday. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98. The stock has a fifty day moving average price of $6.58 and a 200-day moving average price of $8.18. The firm has a market cap of $310.66 million, a price-to-earnings ratio of -5.69 and a beta of 0.21. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $44.46 million for the quarter, compared to the consensus estimate of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) EPS. As a group, equities research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In related news, Director James T. Treace bought 84,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the purchase, the director now directly owns 1,223,441 shares of the company’s stock, valued at $7,291,708.36. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director James T. Treace purchased 84,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $5.96 per share, with a total value of $500,640.00. Following the completion of the acquisition, the director now owns 1,223,441 shares of the company’s stock, valued at approximately $7,291,708.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Treace acquired 85,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the purchase, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The disclosure for this purchase can be found here. Company insiders own 24.43% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Treace Medical Concepts by 3,441.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares during the period. Quest Partners LLC purchased a new position in shares of Treace Medical Concepts during the 4th quarter valued at approximately $68,000. Newbridge Financial Services Group Inc. increased its holdings in Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after acquiring an additional 3,567 shares in the last quarter. RiverPark Advisors LLC raised its position in Treace Medical Concepts by 763.9% during the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after acquiring an additional 7,952 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after purchasing an additional 9,245 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

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.