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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.40.

TMCI has been the subject of a number of recent research reports. UBS Group upped their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial lowered their price objective on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, Stifel Nicolaus lifted their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th.

Treace Medical Concepts Stock Down 0.5 %

Treace Medical Concepts stock opened at $8.52 on Friday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $15.98. The stock has a market cap of $530.80 million, a P/E ratio of -8.61 and a beta of 0.24. The company’s 50-day moving average price is $6.24 and its two-hundred day moving average price is $6.22. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Insider Activity

In other Treace Medical Concepts news, CEO John T. Treace acquired 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. This represents a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in Treace Medical Concepts in the third quarter worth $212,000. Virtu Financial LLC purchased a new position in shares of Treace Medical Concepts in the 3rd quarter worth about $148,000. Barclays PLC grew its position in Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after buying an additional 62,073 shares during the period. Wolverine Trading LLC grew its position in Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after buying an additional 1,946 shares during the period. Finally, State Street Corp increased its holdings in Treace Medical Concepts by 4.2% during the third quarter. State Street Corp now owns 997,453 shares of the company’s stock worth $5,785,000 after buying an additional 39,907 shares during the last quarter. 84.08% of the stock is owned by 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.