Treace Medical Concepts (TMCI) Scheduled to Post Quarterly Earnings on Tuesday

Treace Medical Concepts (NASDAQ:TMCI) is set to issue its quarterly earnings data after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Treace Medical Concepts has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business had revenue of $44.46 million during the quarter, compared to analysts’ expectations of $43.00 million. During the same period in the prior year, the firm earned ($0.20) EPS. Treace Medical Concepts’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect Treace Medical Concepts to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Treace Medical Concepts Stock Performance

NASDAQ TMCI opened at $4.84 on Tuesday. The business’s 50-day moving average price is $5.50 and its 200 day moving average price is $6.66. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $15.98. The company has a market capitalization of $301.00 million, a PE ratio of -4.75 and a beta of 0.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TMCI shares. Truist Financial decreased their target price on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. UBS Group lifted their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley boosted 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 note on Monday, July 15th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 85,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $6.00 per share, with a total value of $510,000.00. Following the purchase, the chief executive officer now owns 6,473,095 shares in the company, valued at approximately $38,838,570. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO John T. Treace bought 85,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $6.00 per share, with a total value of $510,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James T. Treace bought 84,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the acquisition, the director now owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 219,000 shares of company stock valued at $1,276,140 over the last ninety days. Corporate insiders own 24.43% of the company’s stock.

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.