Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock Has Consensus Target Price of $5.17 According to Brokerages

Key Points

• Analysts have a bearish-leaning view of Treace Medical Concepts: seven firms give the stock a consensus “Reduce” rating, with a $5.17 average 12-month price target versus its reported $4.62 share price.
• Insider and institutional ownership increased: CEO John Treace bought 11,000 shares, while insiders own 23.42% and institutional investors hold 84.08% of the company.
• Treace reported better-than-expected quarterly results, with an adjusted loss of $0.24 per share versus the $0.30 consensus and revenue of $45.38 million versus estimates of $44.02 million; however, the company remains unprofitable and analysts expect a full-year loss.

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.17.

TMCI has been the topic of several research reports. Weiss Ratings raised Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 31st. Truist Financial boosted their target price on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised Treace Medical Concepts from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th.

Insider Buying and Selling

In other news, CEO John Treace acquired 11,000 shares of the company's stock in a transaction 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 55,944 shares of company stock valued at $246,841 in the last three months. 23.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Treace Medical Concepts during the 2nd quarter worth $13,154,000. BlackRock Inc. acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $5,492,000. Gagnon Securities LLC lifted its stake in shares of Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company's stock valued at $7,621,000 after purchasing an additional 852,337 shares during the period. Weber Capital Management LLC ADV bought a new position in shares of Treace Medical Concepts in the 2nd quarter worth $2,346,676. Finally, Gagnon Advisors LLC boosted its position in shares of Treace Medical Concepts by 58.4% in the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company's stock worth $3,758,000 after purchasing an additional 565,570 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Stock Up 3.1%

Shares of TMCI opened at $4.62 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95. The company has a market capitalization of $300.48 million, a P/E ratio of -4.97 and a beta of 1.40. The business's 50 day simple moving average is $4.52 and its 200-day simple moving average is $3.42. Treace Medical Concepts has a one year low of $1.17 and a one year high of $7.08.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. The company had revenue of $45.38 million during the quarter, compared to analyst estimates of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. As a group, sell-side analysts predict that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical device company focused on surgical solutions for bunion correction and other forefoot conditions. The company's products are designed to address the underlying structural causes of bunions and support orthopedic and podiatric surgeons during corrective procedures.

Treace's primary product is the Lapiplasty 3D Bunion Correction System, which is intended to correct the three-dimensional alignment of the bones associated with a bunion and help provide stability during healing.

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