Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Rating of "Reduce" by Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have been given an average rating of "Reduce" by the seven analysts that are 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 given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.17.

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Treace Medical Concepts from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings upgraded shares of Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Finally, Truist Financial lifted their price target 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.

Treace Medical Concepts Stock Down 1.9%

Shares of NASDAQ:TMCI opened at $4.67 on Tuesday. Treace Medical Concepts has a 52-week low of $1.17 and a 52-week high of $7.78. The firm has a market capitalization of $302.94 million, a P/E ratio of -5.02 and a beta of 1.37. The stock has a 50 day moving average price of $4.20 and a 200-day moving average price of $2.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. The company had revenue of $45.38 million for the quarter, compared to analyst estimates of $44.02 million. Treace Medical Concepts had a negative return on equity of 67.82% and a negative net margin of 28.99%. As a group, equities research analysts anticipate that Treace Medical Concepts will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, CEO John T. Treace purchased 61,750 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $2.62 per share, with a total value of $161,785.00. Following the transaction, the chief executive officer directly owned 7,158,313 shares in the company, valued at $18,754,780.06. This trade represents a 0.87% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 328,600 shares of company stock worth $1,011,491 in the last ninety days. 23.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company's stock valued at $88,000 after purchasing an additional 2,362 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock worth $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in shares of Treace Medical Concepts by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company's stock worth $5,688,000 after buying an additional 3,677 shares in the last quarter. Barclays PLC grew its holdings in shares of Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company's stock valued at $215,000 after buying an additional 6,077 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock valued at $40,000 after buying an additional 6,554 shares during the last quarter. 84.08% of the stock is owned by institutional investors.

About Treace Medical Concepts

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.

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