Treace Medical Concepts, Inc. (TMCI) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is bearish: Seven brokerages give Treace Medical Concepts an average “Reduce” rating, with a consensus 1-year price target of $5.17.
• The company reported a quarterly loss of $0.24 per share, better than the expected $0.30 loss, while revenue of $45.38 million exceeded estimates; analysts expect a full-year loss of $0.83 per share.
• Despite ongoing losses and negative profitability metrics, insiders have purchased approximately $246,841 of shares over the past 90 days, and institutional investors own 84.08% of the stock.

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have received an average rating of "Reduce" from the seven brokerages that are currently covering the firm, MarketBeat Ratings 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 target price among brokers that have covered the stock in the last year is $5.17.

A number of analysts have recently commented on TMCI shares. Weiss Ratings raised Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 31st. Truist Financial raised their price objective on Treace Medical Concepts from $4.00 to $5.00 and gave the company a "hold" rating in a research report on Monday, August 10th.

Treace Medical Concepts Trading Down 0.2%

Shares of NASDAQ TMCI opened at $4.27 on Friday. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $6.92. 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 firm has a 50-day moving average of $4.41 and a 200 day moving average of $3.75. The stock has a market cap of $277.70 million, a P/E ratio of -4.59 and a beta of 1.48.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping 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 business had revenue of $45.38 million for the quarter, compared to analysts' expectations of $44.02 million. As a group, sell-side analysts expect that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Treace bought 11,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $4.34 per share, with a total value of $47,740.00. Following the completion of the acquisition, the chief executive officer owned 7,404,383 shares of the company's stock, valued at $32,135,022.22. The trade was a 0.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 55,944 shares of company stock valued at $246,841 over the last 90 days. Insiders own 23.42% of the company's stock.

Hedge Funds Weigh In On Treace Medical Concepts

Several large investors have recently modified their holdings of TMCI. Two Sigma Securities LLC bought a new position in Treace Medical Concepts in the 2nd quarter worth about $47,000. HBK Sorce Advisory LLC purchased a new stake in Treace Medical Concepts during the 2nd quarter valued at about $77,000. Chicago Partners Investment Group LLC increased its stake in 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 valued at $35,000 after purchasing an additional 6,606 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Treace Medical Concepts during the 2nd quarter valued at about $106,000. Finally, Hsbc Holdings PLC increased its stake in Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock valued at $40,000 after purchasing an additional 6,554 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.

About Treace Medical Concepts

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.

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