Treace Medical Concepts (NASDAQ:TMCI) Shares Gap Down – Should You Sell?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.78, but opened at $8.58. Treace Medical Concepts shares last traded at $8.55, with a volume of 3,924 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Stifel Nicolaus increased their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reduced 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 report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Treace Medical Concepts presently has an average rating of “Hold” and an average price target of $7.40.

Treace Medical Concepts Price Performance

The stock’s fifty day moving average price is $6.38 and its two-hundred day moving average price is $6.29. The firm has a market capitalization of $514.60 million, a price-to-earnings ratio of -8.63 and a beta of 0.66. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. During the same period last year, the business earned ($0.28) EPS. The company’s revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling

In related news, CEO John T. Treace purchased 50,000 shares of the business’s stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. The trade was a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TMCI. GAMMA Investing LLC increased its stake in Treace Medical Concepts by 3,441.2% in the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after purchasing an additional 4,508 shares during the period. Quarry LP acquired a new position in Treace Medical Concepts in the third quarter valued at $38,000. HighTower Advisors LLC acquired a new position in Treace Medical Concepts in the third quarter valued at $58,000. Nisa Investment Advisors LLC increased its stake in Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after purchasing an additional 9,245 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Treace Medical Concepts by 243.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after purchasing an additional 7,522 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.