Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $5.00 at Truist Financial

Key Points

• Truist Financial raised Treace Medical Concepts’ price target from $4.00 to $5.00 while maintaining a “hold” rating, implying roughly 10% upside from the prior close. The broader analyst consensus remains “Reduce,” with a $5.17 target.
• TMCI shares fell 4.6% to $4.54 in Monday trading. In its latest quarter, the company reported a narrower-than-expected loss of $0.24 per share and revenue of $45.38 million, ahead of estimates.
• Insider and institutional ownership activity has been notable: CEO John T. Treace recently purchased 22,887 shares, while insiders bought 371,600 shares over three months; institutional investors own 84.08% of the stock.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) had its target price lifted by stock analysts at Truist Financial from $4.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price points to a potential upside of 10.13% from the company's previous close.

Several other brokerages have also recently commented on TMCI. Weiss Ratings raised shares of Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a research 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. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Treace Medical Concepts presently has a consensus rating of "Reduce" and a consensus price target of $5.17.

Treace Medical Concepts Stock Down 4.6%

Shares of NASDAQ TMCI traded down $0.22 during midday trading on Monday, reaching $4.54. The company's stock had a trading volume of 405,724 shares, compared to its average volume of 764,681. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The stock has a market capitalization of $294.51 million, a price-to-earnings ratio of -4.93 and a beta of 1.37. The stock has a 50 day simple moving average of $4.18 and a 200-day simple moving average of $2.75.

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

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace bought 22,887 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $4.04 per share, with a total value of $92,463.48. Following the completion of the purchase, the chief executive officer owned 7,376,150 shares of the company's stock, valued at $29,799,646. This represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 371,600 shares of company stock valued at $1,104,801. Corporate insiders own 23.42% of the company's stock.

Institutional Trading of Treace Medical Concepts

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMCI. Osaic Holdings Inc. grew its position in shares of Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock valued at $28,000 after acquiring an additional 3,674 shares during the period. Captrust Financial Advisors bought a new stake in shares of Treace Medical Concepts in the 2nd quarter valued at about $62,000. Graham Capital Management L.P. acquired a new stake in Treace Medical Concepts in the 4th quarter valued at about $27,000. Mercer Global Advisors Inc. ADV acquired a new stake in Treace Medical Concepts in the 3rd quarter valued at about $87,000. Finally, HighTower Advisors LLC bought a new position in Treace Medical Concepts during the fourth quarter worth about $33,000. 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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