Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Treace Medical Concepts has a consensus analyst rating of "Reduce" from seven brokerages, with an average 12-month price target of $4.97.
• The company recently reported quarterly earnings of ($0.28) per share, beating estimates, while revenue of $47.2 million also topped expectations; analysts expect a full-year EPS of -0.88.
• Despite the cautious outlook, insider and institutional buying has been notable, including CEO John T. Treace purchasing shares and hedge funds owning 84.08% of the stock.

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has received an average rating of "Reduce" from the seven ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.97.

TMCI has been the topic of several recent analyst reports. Weiss Ratings upgraded Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Wall Street Zen upgraded Treace Medical Concepts from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Truist Financial upped their price objective on Treace Medical Concepts from $2.00 to $4.00 and gave the company a "hold" rating in a research report on Thursday.

Treace Medical Concepts Stock Up 0.7%

Shares of TMCI opened at $4.43 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $3.66 and a 200 day moving average of $2.56. The company has a market cap of $287.37 million, a PE ratio of -4.57 and a beta of 1.37. Treace Medical Concepts has a 52-week low of $1.17 and a 52-week high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million for the quarter, compared to analysts' expectations of $45.96 million. On average, sell-side analysts expect that Treace Medical Concepts will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, CEO John T. Treace acquired 61,750 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $2.62 per share, for a total transaction of $161,785.00. Following the acquisition, the chief executive officer directly owned 7,158,313 shares of the company's stock, valued at $18,754,780.06. This represents a 0.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 371,600 shares of company stock valued at $1,104,801. Company insiders own 23.42% of the company's stock.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors have recently modified their holdings of TMCI. Invesco Ltd. raised its stake in shares of Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock valued at $88,000 after acquiring an additional 2,362 shares in the last quarter. Osaic Holdings Inc. grew its stake in 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 purchasing an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in 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 purchasing an additional 3,677 shares in the last quarter. Barclays PLC increased its holdings in Treace Medical Concepts by 7.4% during the 4th quarter. Barclays PLC now owns 87,664 shares of the company's stock worth $215,000 after purchasing an additional 6,077 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock worth $40,000 after purchasing an additional 6,554 shares during the period. 84.08% of the stock is owned by hedge funds and other 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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