Treace Medical Concepts (NASDAQ:TMCI) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Treace Medical Concepts reported a quarterly earnings per share (EPS) of (-0.28), surpassing analyst expectations of (-0.29) by $0.01.
• The company also achieved revenue of $47.39 million, which exceeded the consensus estimate of $47.08 million.
• Brokerages have recently lowered their price targets for Treace Medical Concepts, with the average target now sitting at $9.83 and a consensus rating of "Hold".

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) released its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01, Zacks reports. The business had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%. Treace Medical Concepts updated its FY 2025 guidance to EPS.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI traded up $0.05 during mid-day trading on Thursday, reaching $6.95. 399,374 shares of the company traded hands, compared to its average volume of 355,023. The company's 50 day moving average price is $5.88 and its 200-day moving average price is $7.22. The firm has a market cap of $439.03 million, a PE ratio of -8.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.52 and a quick ratio of 3.36. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TMCI. Invesco Ltd. grew its stake in shares of 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 acquiring an additional 2,362 shares during the period. Qube Research & Technologies Ltd purchased a new position in Treace Medical Concepts in the 2nd quarter worth approximately $102,000. Russell Investments Group Ltd. lifted its holdings in Treace Medical Concepts by 133,241.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company's stock worth $243,000 after purchasing an additional 41,305 shares in the last quarter. AQR Capital Management LLC purchased a new position in Treace Medical Concepts in the 1st quarter worth approximately $491,000. Finally, Marshall Wace LLP lifted its holdings in Treace Medical Concepts by 256.2% in the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company's stock worth $799,000 after purchasing an additional 97,729 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TMCI. Stifel Nicolaus cut their price target on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, August 8th. UBS Group restated a "neutral" rating and set a $6.50 price target (down from $8.60) on shares of Treace Medical Concepts in a research note on Friday, August 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.83.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.