Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of “Reduce” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average rating of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.57.

Several equities analysts recently commented on the company. BTIG Research restated a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Wall Street Zen downgraded Treace Medical Concepts from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Truist Financial decreased their price objective on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Stifel Nicolaus lowered their target price on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, October 8th.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $2.69 on Friday. The company has a 50 day moving average of $2.71 and a 200 day moving average of $5.09. The stock has a market cap of $171.41 million, a P/E ratio of -3.36 and a beta of 0.74. Treace Medical Concepts has a 12 month low of $2.36 and a 12 month high of $10.79. The company has a current ratio of 3.37, a quick ratio of 2.36 and a debt-to-equity ratio of 0.60.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. The business had revenue of $50.21 million for the quarter, compared to analysts’ expectations of $49.60 million. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. As a group, sell-side analysts forecast that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in Treace Medical Concepts during the second quarter valued at about $28,000. Osaic Holdings Inc. raised its holdings in shares of Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares in the last quarter. Captrust Financial Advisors bought a new stake in Treace Medical Concepts in the 2nd quarter worth approximately $62,000. Mercer Global Advisors Inc. ADV bought a new stake in Treace Medical Concepts in the 3rd quarter worth approximately $87,000. Finally, Invesco Ltd. boosted its stake in Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Company Profile

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.