Treace Medical Concepts Inc Down 7.37% To $13.32 After Earnings Miss

Treace Medical Concepts Inc (TMCI) said after close Tuesday that it lost $0.1 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $62.2 million, beating estimates by $1.7 million.

In the same quarter a year ago, the company lost $0.08 per share on revenue of $49.8 million.

The stock is down 7.37% to $13.32 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 28. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Treace Medical Concepts Inc is a commercial-stage orthopaedic medical device company. It is focused on advancing the standard of care for the surgical management of bunion deformities. The company's patented Lapiplasty 3D Bunion Correction procedure is designed to reproducibly correct all planes of the bunion deformity and address the root cause of the bunion, while allowing patients to return to their active lives quickly. The Company operates and manages its business as one segment, which is the business of designing, manufacturing, and marketing medical devices for physicians, surgeons, ambulatory surgery centers, and hospitals.