Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Rating of “Hold” by Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.86.

A number of research firms have recently weighed in on TMCI. Morgan Stanley lifted their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. BTIG Research lowered Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. UBS Group downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $6.50 in a report on Thursday, May 16th. Truist Financial raised their target price on shares of Treace Medical Concepts from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus lowered shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $6.00 in a research note on Wednesday, May 8th.

Treace Medical Concepts Trading Down 1.4 %

Shares of NASDAQ TMCI opened at $7.72 on Monday. The company has a market cap of $478.72 million, a price-to-earnings ratio of -8.77 and a beta of 0.22. The stock’s 50 day simple moving average is $6.46 and its 200 day simple moving average is $10.19. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $23.33.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.30). The company had revenue of $51.11 million for the quarter, compared to analysts’ expectations of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Equities research analysts expect that Treace Medical Concepts will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other Treace Medical Concepts news, Director Deepti Jain acquired 25,000 shares of Treace Medical Concepts stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $4.50 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 31,235 shares in the company, valued at approximately $140,557.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Treace Medical Concepts news, Director Deepti Jain bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average cost of $4.50 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now directly owns 31,235 shares in the company, valued at $140,557.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard W. Mott purchased 36,802 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the transaction, the director now owns 1,027,753 shares of the company’s stock, valued at approximately $4,501,558.14. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 593,902 shares of company stock worth $2,930,422. 24.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently made changes to their positions in TMCI. Vanguard Group Inc. grew its position in Treace Medical Concepts by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,189,582 shares of the company’s stock worth $54,925,000 after purchasing an additional 155,835 shares in the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Treace Medical Concepts by 27.8% during the fourth quarter. Oak Ridge Investments LLC now owns 113,307 shares of the company’s stock valued at $1,445,000 after buying an additional 24,642 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Treace Medical Concepts by 78.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,524 shares of the company’s stock valued at $185,000 after buying an additional 6,363 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Treace Medical Concepts by 22.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock valued at $22,301,000 after buying an additional 315,691 shares during the period. Finally, Roubaix Capital LLC purchased a new stake in Treace Medical Concepts in the 4th quarter worth about $1,566,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

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.