Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Rating of "Hold" by Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has been given a consensus rating of "Hold" by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.00.

A number of research firms recently weighed in on TMCI. Morgan Stanley lifted their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an "equal weight" rating in a research note on Monday, July 15th. UBS Group lifted their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Finally, Truist Financial dropped their price objective on Treace Medical Concepts from $7.50 to $6.00 and set a "hold" rating on the stock in a report on Monday, October 14th.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 85,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the purchase, the chief executive officer now directly owns 6,473,095 shares of the company's stock, valued at $38,838,570. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John T. Treace bought 85,000 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James T. Treace purchased 84,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the acquisition, the director now directly owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 219,000 shares of company stock valued at $1,276,140. Company insiders own 24.43% of the company's stock.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Treace Medical Concepts during the 2nd quarter valued at about $2,247,000. Lighthouse Investment Partners LLC purchased a new stake in Treace Medical Concepts in the second quarter worth approximately $1,114,000. Point72 Asset Management L.P. bought a new position in Treace Medical Concepts during the second quarter valued at approximately $2,412,000. Nisa Investment Advisors LLC raised its stake in shares of Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company's stock worth $62,000 after acquiring an additional 9,245 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Treace Medical Concepts by 3,441.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company's stock worth $31,000 after acquiring an additional 4,508 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI traded down $0.03 during midday trading on Wednesday, reaching $4.79. The company had a trading volume of 513,040 shares, compared to its average volume of 815,261. The stock has a market cap of $297.89 million, a P/E ratio of -4.65 and a beta of 0.20. The company's 50 day moving average price is $5.47 and its 200 day moving average price is $6.60. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.05). The firm had revenue of $44.46 million during the quarter, compared to analysts' expectations of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Treace Medical Concepts will post -0.93 EPS for the current fiscal year.

About Treace Medical Concepts

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.