Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $4.00

Treace Medical Concepts (NASDAQ:TMCI) had its price objective increased by Truist Financial from $2.00 to $4.00 in a research report report published on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also recently issued reports on TMCI. Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Treace Medical Concepts has an average rating of “Reduce” and an average target price of $4.97.

Treace Medical Concepts Stock Down 2.9%

Treace Medical Concepts stock opened at $4.30 on Thursday. Treace Medical Concepts has a 12 month low of $1.17 and a 12 month high of $7.78. The stock has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $2.57. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The firm has a market cap of $278.94 million, a price-to-earnings ratio of -4.43 and a beta of 1.37.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%.The firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $45.96 million. Equities analysts predict that Treace Medical Concepts will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John T. Treace purchased 61,750 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $2.62 per share, for a total transaction of $161,785.00. Following the purchase, the chief executive officer directly owned 7,158,313 shares in the company, valued at $18,754,780.06. This trade represents a 0.87% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 371,600 shares of company stock valued at $1,104,801 over the last 90 days. 23.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors have recently made changes to their positions in the business. Graham Capital Management L.P. bought a new stake in Treace Medical Concepts during the fourth quarter valued at approximately $27,000. Osaic Holdings Inc. raised its position in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the period. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts during the 4th quarter worth $33,000. Chicago Partners Investment Group LLC boosted its stake in shares of Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after acquiring an additional 6,606 shares during the last quarter. Finally, Balance Wealth LLC purchased a new position in shares of Treace Medical Concepts during the 4th quarter worth $37,000. Institutional investors own 84.08% of the company’s stock.

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.