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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned an average rating of “Reduce” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.77.

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Lake Street Capital lowered their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd.

Insider Buying and Selling

In other news, CEO John T. Treace bought 22,887 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $4.04 per share, with a total value of $92,463.48. Following the completion of the purchase, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at approximately $29,799,646. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 371,600 shares of company stock valued at $1,104,801 over the last ninety days. 23.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Treace Medical Concepts during the third quarter worth $122,199,000. Weber Capital Management LLC ADV bought a new stake in shares of Treace Medical Concepts during the fourth quarter worth $1,445,000. William Blair Investment Management LLC increased its position in shares of Treace Medical Concepts by 17.2% during the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after acquiring an additional 534,486 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Treace Medical Concepts by 212.5% during the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock worth $852,000 after acquiring an additional 236,477 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Treace Medical Concepts by 36.4% during the third quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock worth $8,313,000 after acquiring an additional 330,866 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 0.2%

TMCI opened at $4.46 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The company has a market cap of $289.33 million, a price-to-earnings ratio of -4.60 and a beta of 1.40. The firm has a 50 day simple moving average of $2.97 and a 200 day simple moving average of $2.39. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. On average, sell-side analysts anticipate that Treace Medical Concepts will post -0.88 earnings per share for the current year.

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.