Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock Has Consensus Price Target of $5.17 According to Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given an average rating of “Reduce” by the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.17.

Several research firms have weighed in on TMCI. Weiss Ratings upgraded shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Truist Financial lifted their price target on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Monday, August 10th.

Insider Activity at Treace Medical Concepts

In related news, CEO John Treace bought 11,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $47,740.00. Following the completion of the transaction, the chief executive officer owned 7,404,383 shares of the company’s stock, valued at approximately $32,135,022.22. This trade represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 55,944 shares of company stock valued at $246,841. Corporate insiders own 23.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its stake in Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock valued at $40,000 after purchasing an additional 6,554 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Treace Medical Concepts by 34.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after purchasing an additional 6,606 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Treace Medical Concepts in the 2nd quarter worth approximately $47,000. HBK Sorce Advisory LLC bought a new position in Treace Medical Concepts in the 2nd quarter worth approximately $77,000. Finally, Jefferies Financial Group Inc. bought a new position in Treace Medical Concepts in the 2nd quarter worth approximately $106,000. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Stock Up 2.9%

Shares of NASDAQ:TMCI opened at $4.55 on Friday. The firm’s 50 day moving average price is $4.41 and its 200-day moving average price is $3.22. Treace Medical Concepts has a twelve month low of $1.17 and a twelve month high of $6.91. The stock has a market capitalization of $295.91 million, a PE ratio of -4.89 and a beta of 1.48.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. The business had revenue of $45.38 million for the quarter, compared to the consensus estimate of $44.02 million. Analysts expect that Treace Medical Concepts will post -0.83 earnings per share for the current fiscal year.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of bunion deformities and other conditions affecting the foot and ankle. The company’s technologies are designed to address the underlying structural causes of bunions and support more stable correction than traditional surgical approaches.

Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is used by foot and ankle surgeons to correct bunions in three dimensions.