Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $5.00

Treace Medical Concepts (NASDAQ:TMCI) had its price target upped by Truist Financial from $4.00 to $5.00 in a research note issued to investors on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts also recently weighed in on TMCI. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts Trading Up 0.2%

Shares of Treace Medical Concepts stock opened at $4.75 on Monday. Treace Medical Concepts has a 52-week low of $1.17 and a 52-week high of $7.78. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The company’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $2.79. The firm has a market cap of $308.94 million, a price-to-earnings ratio of -5.11 and a beta of 1.37.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 67.82%. The firm had revenue of $45.38 million during the quarter, compared to the consensus estimate of $44.02 million. As a group, equities research analysts anticipate that Treace Medical Concepts will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John T. Treace bought 22,887 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $4.04 per share, for a total transaction of $92,463.48. Following the completion of the transaction, the chief executive officer owned 7,376,150 shares in the company, valued at $29,799,646. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 217,837 shares of company stock worth $729,134 in the last quarter. 23.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Treace Medical Concepts in the 2nd quarter valued at about $5,492,000. Bank of America Corp DE raised its position in Treace Medical Concepts by 38.9% during the first quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock worth $4,307,000 after acquiring an additional 900,071 shares during the last quarter. Gagnon Securities LLC raised its position in Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after acquiring an additional 852,337 shares during the last quarter. Weber Capital Management LLC ADV purchased a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $1,445,000. Finally, Gagnon Advisors LLC lifted its holdings in shares of Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after purchasing an additional 565,570 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

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.