Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Recommendation of “Reduce” by Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average rating of “Reduce” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.17.

A number of brokerages recently weighed in on TMCI. Truist Financial boosted their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $4.81 on Friday. The stock has a market cap of $312.84 million, a price-to-earnings ratio of -5.17 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.63. The firm’s 50-day moving average is $4.45 and its 200 day moving average is $3.07.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. The business had revenue of $45.38 million during the quarter, compared to analysts’ expectations of $44.02 million. Sell-side analysts anticipate that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Treace Medical Concepts news, CEO John Treace bought 11,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $4.34 per share, with a total value of $47,740.00. Following the transaction, the chief executive officer owned 7,404,383 shares in the company, valued at $32,135,022.22. This represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 108,261 shares of company stock valued at $457,613. 23.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new position in shares of Treace Medical Concepts during the second quarter valued at approximately $47,000. Hsbc Holdings PLC grew its position in Treace Medical Concepts by 74.8% in the 2nd quarter. Hsbc Holdings PLC now owns 54,170 shares of the company’s stock worth $213,000 after purchasing an additional 23,176 shares during the period. Jefferies Financial Group Inc. bought a new stake in Treace Medical Concepts in the 2nd quarter worth approximately $106,000. Bank of America Corp DE purchased a new stake in Treace Medical Concepts during the 2nd quarter valued at $13,154,000. Finally, Weber Capital Management LLC ADV purchased a new stake in Treace Medical Concepts during the 2nd quarter valued at $2,346,676. 84.08% of the stock is 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.