Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Rating of "Hold" from Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have been assigned an average recommendation of "Hold" from the six brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.40.

Several brokerages have issued reports on TMCI. Truist Financial dropped their price target on Treace Medical Concepts from $7.50 to $6.00 and set a "hold" rating for the company in a research note on Monday, October 14th. UBS Group upped their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus increased their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th.

Insider Activity

In other news, CEO John T. Treace acquired 50,000 shares of the stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $5.31 per share, with a total value of $265,500.00. Following the completion of the transaction, the chief executive officer now owns 6,523,095 shares of the company's stock, valued at $34,637,634.45. This represents a 0.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.43% of the company's stock.

Institutional Trading of Treace Medical Concepts

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Armistice Capital LLC boosted its stake in Treace Medical Concepts by 123.3% during the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company's stock worth $35,644,000 after acquiring an additional 2,960,000 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company's stock worth $24,483,000 after purchasing an additional 1,352,207 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter worth approximately $2,412,000. Acadian Asset Management LLC bought a new position in Treace Medical Concepts during the 2nd quarter valued at approximately $2,247,000. Finally, Marshall Wace LLP raised its stake in Treace Medical Concepts by 65.9% during the second quarter. Marshall Wace LLP now owns 463,039 shares of the company's stock valued at $3,079,000 after buying an additional 183,921 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI traded down $0.11 on Friday, hitting $7.83. The company's stock had a trading volume of 329,148 shares, compared to its average volume of 788,784. The company has a market capitalization of $487.79 million, a PE ratio of -7.91 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The company has a 50-day simple moving average of $5.93 and a 200 day simple moving average of $6.14. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. The business had revenue of $45.09 million during the quarter, compared to analyst estimates of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. Treace Medical Concepts's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.28) earnings per share. Sell-side analysts forecast that Treace Medical Concepts will post -0.92 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.