Treace Medical Concepts (NASDAQ:TMCI) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Treace Medical Concepts, Inc. (NASDAQ:TMCI) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.40 and traded as high as $5.22. Treace Medical Concepts shares last traded at $4.78, with a volume of 1,094,529 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on TMCI. UBS Group raised Treace Medical Concepts from a “neutral” rating to a “buy” rating in a research note on Monday. Truist Financial boosted their target price on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Finally, Stifel Nicolaus raised Treace Medical Concepts from a “hold” rating to a “buy” rating and upped their price target for the company from $4.50 to $6.50 in a research note on Monday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.17.

Treace Medical Concepts Trading Up 3.7%

The business’s 50-day moving average price is $4.41 and its two-hundred day moving average price is $3.32. The company has a market capitalization of $331.73 million, a P/E ratio of -5.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.58 and a quick ratio of 1.95.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. Treace Medical Concepts had a negative net margin of 27.44% and a negative return on equity of 72.99%. The company had revenue of $48.25 million during the quarter, compared to analyst estimates of $47.80 million. As a group, analysts forecast that Treace Medical Concepts, Inc. will post -0.80 EPS for the current fiscal year.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John Treace bought 39,944 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $4.44 per share, with a total value of $177,351.36. Following the completion of the purchase, the chief executive officer owned 7,388,383 shares in the company, valued at approximately $32,804,420.52. The trade was a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 55,944 shares of company stock valued at $246,841 over the last ninety days. 23.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently modified their holdings of TMCI. BlackRock Inc. acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at approximately $5,492,000. Bank of America Corp DE acquired a new stake in Treace Medical Concepts during the 2nd quarter worth approximately $13,154,000. Renaissance Technologies LLC acquired a new stake in Treace Medical Concepts during the 1st quarter worth approximately $701,000. Weber Capital Management LLC ADV acquired a new stake in Treace Medical Concepts during the 2nd quarter worth approximately $2,346,676. Finally, Ieq Capital LLC bought a new position in Treace Medical Concepts in the second quarter valued at approximately $437,000. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc. is a medical device company focused on developing and commercializing products for the surgical treatment of bunion deformities and other conditions affecting the foot and ankle. The company’s technologies are designed to address the underlying structural causes of bunions and support more stable correction than traditional surgical approaches. Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is used by foot and ankle surgeons to correct bunions in three dimensions.