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

by · The Markets Daily

Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) will 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.Parties interested in registering for the company’s conference call can do so using this link.

Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share 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 net margin of 32.08% and a negative return on equity of 49.53%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) EPS. 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 Trading Up 2.6 %

Shares of TMCI stock opened at $4.78 on Monday. The company’s 50-day moving average price is $5.37 and its 200-day moving average price is $6.46. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47. The stock has a market cap of $297.27 million, a price-to-earnings ratio of -4.69 and a beta of 0.24. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $15.98.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Truist Financial lowered their target price on shares of 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. Finally, UBS Group increased their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Treace Medical Concepts currently has an average rating of “Hold” and a consensus price target of $7.00.

Read Our Latest Stock Analysis on Treace Medical Concepts

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace bought 85,000 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $6.00 per share, with a total value of $510,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John T. Treace bought 85,000 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $6.00 per share, with a total value of $510,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John T. Treace bought 50,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, September 16th. The stock was 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 of the company’s stock, valued at $34,637,634.45. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 219,000 shares of company stock valued at $1,276,140 over the last 90 days. 24.43% of the stock is owned by corporate insiders.

Treace Medical Concepts Company Profile

(Get Free Report)

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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