Treace Medical Concepts (TMCI) – Analysts’ Weekly Ratings Updates

Treace Medical Concepts (NASDAQ: TMCI) recently received a number of ratings updates from brokerages and research firms:

  • 5/8/2024 – Treace Medical Concepts was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $8.00 price target on the stock, down previously from $15.00.
  • 5/8/2024 – Treace Medical Concepts was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating.
  • 5/8/2024 – Treace Medical Concepts was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $7.00 price target on the stock, down previously from $17.00.
  • 5/8/2024 – Treace Medical Concepts was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $6.00 price target on the stock, down previously from $15.00.
  • 5/8/2024 – Treace Medical Concepts was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $5.50 price target on the stock, down previously from $15.00.
  • 5/8/2024 – Treace Medical Concepts had its price target lowered by analysts at UBS Group AG from $17.00 to $16.00. They now have a “buy” rating on the stock.

Treace Medical Concepts Stock Up 3.4 %

Treace Medical Concepts stock opened at $4.53 on Tuesday. The firm has a 50 day moving average price of $11.27 and a two-hundred day moving average price of $11.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $27.70. The firm has a market cap of $280.91 million, a price-to-earnings ratio of -5.15 and a beta of 0.37.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.30). The company had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) EPS. Equities analysts predict that Treace Medical Concepts, Inc. will post -0.87 EPS for the current year.

Insider Buying and Selling at Treace Medical Concepts

In other news, Director Richard W. Mott purchased 36,802 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $4.38 per share, with a total value of $161,192.76. Following the purchase, the director now owns 1,027,753 shares in the company, valued at $4,501,558.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Treace Medical Concepts news, Director Deepti Jain acquired 25,000 shares of Treace Medical Concepts stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now directly owns 31,235 shares of the company’s stock, valued at $140,557.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard W. Mott bought 36,802 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the acquisition, the director now directly owns 1,027,753 shares in the company, valued at $4,501,558.14. The disclosure for this purchase can be found here. Insiders own 24.43% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Treace Medical Concepts by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 166,350 shares of the company’s stock worth $2,181,000 after acquiring an additional 3,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Treace Medical Concepts by 20.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company’s stock worth $107,000 after buying an additional 1,376 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in Treace Medical Concepts by 6.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 677,733 shares of the company’s stock valued at $8,885,000 after buying an additional 43,510 shares during the period. Arizona State Retirement System increased its holdings in Treace Medical Concepts by 17.1% during the third quarter. Arizona State Retirement System now owns 13,097 shares of the company’s stock worth $172,000 after buying an additional 1,910 shares during the last quarter. Finally, Jump Financial LLC raised its position in Treace Medical Concepts by 72.1% in the third quarter. Jump Financial LLC now owns 67,490 shares of the company’s stock worth $885,000 after acquiring an additional 28,273 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.

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