Treace Medical Concepts (NASDAQ:TMCI) Releases Earnings Results, Beats Estimates By $0.02 EPS

Treace Medical Concepts (NASDAQ:TMCI) released its quarterly earnings data on Tuesday. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02, Briefing.com reports. The company had revenue of $45.09 million for the quarter, compared to the consensus estimate of $43.48 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.28) EPS. Treace Medical Concepts updated its FY 2024 guidance to EPS.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $7.90 on Friday. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $15.98. The business has a 50 day moving average price of $5.41 and a two-hundred day moving average price of $6.36. The company has a quick ratio of 2.93, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm has a market cap of $492.17 million, a PE ratio of -7.98 and a beta of 0.24.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace acquired 50,000 shares of the stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $5.31 per share, for a total transaction of $265,500.00. Following the purchase, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director James T. Treace bought 84,000 shares of Treace Medical Concepts stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $5.96 per share, with a total value of $500,640.00. Following the acquisition, the director now directly owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John T. Treace bought 50,000 shares of Treace Medical Concepts stock in a transaction on Monday, September 16th. The shares were purchased at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the acquisition, the chief executive officer now owns 6,523,095 shares in the company, valued at $34,637,634.45. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 219,000 shares of company stock worth $1,276,140 in the last 90 days. 24.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. UBS Group increased their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Stifel Nicolaus increased their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Truist Financial lowered their target price on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Hold” and a consensus price target of $7.40.

Treace Medical Concepts Company Profile

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.