Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received a consensus recommendation of “Reduce” from the six research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.57.

A number of equities analysts have recently issued reports on TMCI shares. UBS Group reduced their price target on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $5.00 price target (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Stifel Nicolaus dropped their price target on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, January 21st. Finally, Truist Financial cut their price target on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th.

Institutional Trading of Treace Medical Concepts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased 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 valued at $88,000 after purchasing an additional 2,362 shares during the period. Osaic Holdings Inc. boosted its position in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in Treace Medical Concepts by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after buying an additional 3,677 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Treace Medical Concepts by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 249,169 shares of the company’s stock worth $1,540,000 after buying an additional 4,369 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in Treace Medical Concepts during the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $2.54 on Friday. The company has a market capitalization of $161.85 million, a PE ratio of -3.18 and a beta of 0.74. The company has a 50-day simple moving average of $2.69 and a two-hundred day simple moving average of $5.00. Treace Medical Concepts has a one year low of $2.36 and a one year high of $10.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. The business had revenue of $50.21 million for the quarter, compared to analysts’ expectations of $49.60 million. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. Research analysts expect that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Treace Medical Concepts Company Profile

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.