Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Recommendation of “Reduce” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average rating of “Reduce” from the seven research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.17.

A number of brokerages have recently commented on TMCI. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Truist Financial increased their price target on Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st.

Insider Activity

In other news, CEO John Treace purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $4.34 per share, with a total value of $47,740.00. Following the purchase, the chief executive officer owned 7,404,383 shares in the company, valued at approximately $32,135,022.22. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have bought 55,944 shares of company stock valued at $246,841. 23.42% of the stock is currently owned by company insiders.

Institutional Trading of Treace Medical Concepts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the period. Captrust Financial Advisors bought a new position in shares of Treace Medical Concepts during the second quarter valued at approximately $62,000. Graham Capital Management L.P. bought a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $27,000. Two Sigma Securities LLC purchased a new position in Treace Medical Concepts during the 2nd quarter valued at $47,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Treace Medical Concepts during the 3rd quarter valued at $87,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock opened at $4.51 on Friday. The company’s 50-day moving average price is $4.49 and its 200-day moving average price is $3.17. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $293.31 million, a PE ratio of -4.85 and a beta of 1.40. Treace Medical Concepts has a twelve month low of $1.17 and a twelve month high of $7.61.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $45.38 million during the quarter, compared to the consensus estimate of $44.02 million. On average, equities research analysts forecast that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.

Treace Medical Concepts Company Profile

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.