Treace Medical Concepts (NASDAQ:TMCI) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of 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

TMCI has been the subject of a number of recent analyst reports. UBS Group raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating in a report on Monday. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Stifel Nicolaus raised shares of Treace Medical Concepts from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.50 to $6.50 in a research note on Monday. Finally, Truist Financial boosted their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Treace Medical Concepts currently has an average rating of “Hold” and an average target price of $6.17.

Treace Medical Concepts Trading Up 18.6%

The company has a current ratio of 2.90, a quick ratio of 1.95 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $310.89 million, a P/E ratio of -5.56 and a beta of 1.59. The firm has a 50-day moving average of $4.40 and a two-hundred day moving average of $3.29.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. The business had revenue of $48.25 million for the quarter, compared to analyst estimates of $47.80 million. On average, analysts anticipate that Treace Medical Concepts, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Treace Medical Concepts

In related news, CEO John Treace purchased 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average cost of $4.34 per share, with a total value of $47,740.00. Following the acquisition, the chief executive officer owned 7,404,383 shares of the company’s stock, valued at $32,135,022.22. This trade represents a 0.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have purchased 55,944 shares of company stock valued at $246,841. Company insiders own 23.42% of the company’s stock.

Institutional Trading of Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in shares of Treace Medical Concepts during the second quarter worth $13,154,000. BlackRock Inc. bought a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $5,492,000. Weber Capital Management LLC ADV acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at $2,346,676. Renaissance Technologies LLC acquired a new stake in shares of Treace Medical Concepts during the 1st quarter valued at $701,000. Finally, Gagnon Securities LLC boosted its holdings in shares of Treace Medical Concepts by 12.8% during the 3rd quarter. Gagnon Securities LLC now owns 3,415,918 shares of the company’s stock valued at $15,167,000 after acquiring an additional 386,375 shares in the last quarter. Institutional investors and hedge funds 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.