Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $4.77 Average PT from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given a consensus rating of “Reduce” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.77.

A number of analysts have recently commented on the company. Lake Street Capital lowered their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Stifel Nicolaus decreased their price target on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Truist Financial lowered their price objective on 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. Wall Street Zen cut shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMCI. Graham Capital Management L.P. purchased a new stake in shares of Treace Medical Concepts during the 4th quarter worth about $27,000. Osaic Holdings Inc. grew its position 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 acquiring an additional 3,674 shares during the period. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts in the 4th quarter valued at about $33,000. Balance Wealth LLC acquired a new position in Treace Medical Concepts in the 4th quarter worth about $37,000. Finally, AXQ Capital LP acquired a new position in Treace Medical Concepts in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 2.7%

NASDAQ TMCI opened at $1.42 on Friday. Treace Medical Concepts has a 1 year low of $1.31 and a 1 year high of $8.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.31 and a quick ratio of 3.13. The company has a market capitalization of $91.72 million, a PE ratio of -1.51 and a beta of 0.77. The company has a fifty day moving average of $2.14 and a 200 day moving average of $3.94.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $62.52 million for the quarter, compared to the consensus estimate of $61.76 million. Treace Medical Concepts had a negative return on equity of 59.91% and a negative net margin of 27.74%. Research analysts forecast that Treace Medical Concepts will post -0.92 earnings per share for the current year.

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.