Treace Medical Concepts (NASDAQ:TMCI) Posts Earnings Results, Meets Estimates

Treace Medical Concepts (NASDAQ:TMCI) announced its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.30), Briefing.com reports. Treace Medical Concepts had a negative net margin of 26.47% and a negative return on equity of 33.96%. The company had revenue of $51.11 million during the quarter, compared to analysts’ expectations of $49.07 million. During the same quarter in the prior year, the company posted ($0.23) EPS. The business’s revenue was up 21.1% on a year-over-year basis.

Treace Medical Concepts Trading Up 2.6 %

Shares of NASDAQ:TMCI traded up $0.11 during midday trading on Thursday, hitting $4.28. 1,479,124 shares of the stock were exchanged, compared to its average volume of 651,084. The stock has a market capitalization of $264.33 million, a price-to-earnings ratio of -5.15 and a beta of 0.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 4.40. The business’s 50-day moving average price is $11.82 and its 200 day moving average price is $11.67. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $27.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TMCI shares. Truist Financial cut shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $17.00 to $7.00 in a research report on Wednesday. UBS Group dropped their target price on shares of Treace Medical Concepts from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley cut shares of Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $15.00 to $5.50 in a research report on Wednesday. Stifel Nicolaus cut shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $6.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $8.00 in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Treace Medical Concepts currently has a consensus rating of “Hold” and an average price target of $13.57.

Treace Medical Concepts Company Profile

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.