Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given an average rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.40.

A number of research firms have issued reports on TMCI. Stifel Nicolaus lifted their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Truist Financial cut their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a report on Monday, October 14th. Finally, UBS Group upped their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 50,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the transaction, the chief executive officer now owns 6,523,095 shares in the company, valued at $34,637,634.45. This trade represents a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TMCI. Acadian Asset Management LLC purchased a new stake in Treace Medical Concepts in the 2nd quarter valued at about $2,247,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $1,114,000. Point72 Asset Management L.P. bought a new position in Treace Medical Concepts in the second quarter worth approximately $2,412,000. Nisa Investment Advisors LLC increased its holdings in Treace Medical Concepts by 34,240.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after purchasing an additional 9,245 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Treace Medical Concepts by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock valued at $135,000 after purchasing an additional 2,160 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $8.56 on Friday. The firm has a market cap of $533.26 million, a price-to-earnings ratio of -8.65 and a beta of 0.24. The firm has a fifty day moving average price of $6.12 and a 200 day moving average price of $6.19. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $15.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

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.