Treace Medical Concepts (TMCI) Set to Announce Quarterly Earnings on Tuesday

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) will post its quarterly earnings results after the market closes on Tuesday, November 5th. Analysts expect Treace Medical Concepts to post earnings of ($0.27) per share for the quarter. Treace Medical Concepts has set its FY 2024 guidance at EPS.Persons that are interested in registering for the company's earnings conference call can do so using this link.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The firm had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect Treace Medical Concepts to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Treace Medical Concepts Stock Down 0.4 %

Treace Medical Concepts stock traded down $0.02 during midday trading on Tuesday, hitting $4.82. 498,822 shares of the stock were exchanged, compared to its average volume of 816,434. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. The firm has a market cap of $299.76 million, a P/E ratio of -4.73 and a beta of 0.20. The company has a 50 day moving average price of $5.47 and a two-hundred day moving average price of $6.60.

Wall Street Analysts Forecast Growth

TMCI has been the subject of a number of analyst reports. Truist Financial reduced their price target on Treace Medical Concepts from $7.50 to $6.00 and set a "hold" rating for the company in a report on Monday, October 14th. UBS Group upped their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Finally, Morgan Stanley raised their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an "equal weight" rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Insider Activity

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

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.