Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) have been given an average recommendation of “Reduce” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $5.17.
A number of brokerages recently commented on TMCI. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Truist Financial upped their price objective on Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st.
Check Out Our Latest Research Report on TMCI
Treace Medical Concepts Trading Down 10.7%
Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Research analysts anticipate that Treace Medical Concepts will post -0.83 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO John Treace acquired 39,944 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $4.44 per share, for a total transaction of $177,351.36. Following the completion of the acquisition, the chief executive officer owned 7,388,383 shares of the company’s stock, valued at approximately $32,804,420.52. This represents a 0.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 55,944 shares of company stock worth $246,841 in the last three months. 23.42% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of TMCI. Bank of America Corp DE bought a new position in Treace Medical Concepts in the 2nd quarter worth approximately $13,154,000. BlackRock Inc. bought a new stake in Treace Medical Concepts during the 2nd quarter valued at $5,492,000. Gagnon Securities LLC lifted its position in shares of 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 in the last quarter. Weber Capital Management LLC ADV purchased a new stake in shares of Treace Medical Concepts during the second quarter worth $2,346,676. Finally, Gagnon Advisors LLC boosted 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 worth $3,758,000 after acquiring an additional 565,570 shares during the period. 84.08% of the stock is owned by institutional investors.
About Treace Medical Concepts
Treace Medical Concepts, Inc is a medical technology company focused on advancing surgical treatment for bunions and other deformities of the big toe and forefoot. The company develops and commercializes medical devices, surgical instruments and procedure-based solutions designed to address the underlying structural causes of bunion deformities.
Its flagship offering is the Lapiplasty 3D Bunion Correction System, which is intended to correct bunions in three dimensions and stabilize the affected joint.
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