Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $4.97 Average Price Target from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received an average recommendation of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.97.

A number of brokerages have recently commented on TMCI. Truist Financial lifted their target price on Treace Medical Concepts from $2.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.30 on Friday. The company has a market cap of $278.94 million, a price-to-earnings ratio of -4.43 and a beta of 1.37. Treace Medical Concepts has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $3.71 and a 200 day moving average price of $2.57.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%.The company had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. As a group, equities research analysts predict that Treace Medical Concepts will post -0.88 earnings per share for the current year.

Insider Buying and Selling at Treace Medical Concepts

In other news, CEO John T. Treace bought 22,887 shares of Treace Medical Concepts stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price 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 in the company, valued at $29,799,646. The trade was a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 371,600 shares of company stock valued at $1,104,801 over the last quarter. Corporate insiders own 23.42% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of Treace Medical Concepts during the first quarter valued at approximately $491,000. Millennium Management LLC grew its stake in shares of Treace Medical Concepts by 35.3% during the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after buying an additional 116,114 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Treace Medical Concepts by 133,241.9% in the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock worth $243,000 after buying an additional 41,305 shares during the period. Invesco Ltd. raised its holdings in shares of 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 during the period. Finally, Marshall Wace LLP lifted its stake in shares of Treace Medical Concepts by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock worth $799,000 after acquiring an additional 97,729 shares during the last quarter. 84.08% of the stock is currently 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.