Treace Medical Concepts (NASDAQ:TMCI) PT Lowered to $7.50 at Truist Financial

Treace Medical Concepts (NASDAQ:TMCI) had its target price lowered by Truist Financial from $9.00 to $7.50 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Treace Medical Concepts from an overweight rating to a neutral rating and decreased their price target for the stock from $15.00 to $8.00 in a research note on Wednesday, May 8th. UBS Group downgraded shares of Treace Medical Concepts from a buy rating to a neutral rating and dropped their price objective for the company from $16.00 to $6.50 in a research report on Thursday, May 16th. Morgan Stanley increased their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an equal weight rating in a research report on Monday, July 15th. BTIG Research cut Treace Medical Concepts from a buy rating to a neutral rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus lowered shares of Treace Medical Concepts from a buy rating to a hold rating and dropped their price target for the company from $15.00 to $6.00 in a research note on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $12.71.

Treace Medical Concepts Trading Down 8.4 %

TMCI traded down $0.53 during mid-day trading on Wednesday, hitting $5.79. 1,105,725 shares of the stock were exchanged, compared to its average volume of 927,534. The firm’s fifty day moving average is $6.75 and its two-hundred day moving average is $9.80. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $17.63. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. The company has a market cap of $359.03 million, a PE ratio of -6.58 and a beta of 0.23.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. Treace Medical Concepts had a negative return on equity of 47.50% and a negative net margin of 32.08%. Treace Medical Concepts’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS. Equities analysts forecast that Treace Medical Concepts will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, Director Richard W. Mott purchased 12,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average price of $4.99 per share, for a total transaction of $60,379.00. Following the purchase, the director now directly owns 1,054,944 shares in the company, valued at $5,264,170.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Treace Medical Concepts news, Director Richard W. Mott bought 12,100 shares of Treace Medical Concepts stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $4.99 per share, with a total value of $60,379.00. Following the completion of the acquisition, the director now owns 1,054,944 shares of the company’s stock, valued at $5,264,170.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard W. Mott bought 36,802 shares of Treace Medical Concepts stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $4.38 per share, with a total value of $161,192.76. Following the completion of the acquisition, the director now directly owns 1,027,753 shares of the company’s stock, valued at approximately $4,501,558.14. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 418,902 shares of company stock worth $2,130,922. 24.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TMCI. GAMMA Investing LLC increased its position in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares in the last quarter. CWM LLC grew its position in Treace Medical Concepts by 208.7% during the second quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after buying an additional 6,826 shares during the period. Quest Partners LLC purchased a new position in Treace Medical Concepts in the fourth quarter valued at about $68,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Treace Medical Concepts by 100.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after acquiring an additional 3,567 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

About Treace Medical Concepts

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.