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Treace Medical Concepts (TMCI) Moves 8.2% Higher: Will This Strength Last?

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Treace Medical Concepts TMCI shares soared 8.2% in the last trading session to close at $14.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.6% loss over the past four weeks.

Treace Medical Concepts scored a strong price rise driven by its better-than-expected first-quarter 2022 performance (earnings beat of 20% on revenue beat of 10.9% as compared to the respective Zacks Consensus Estimate).  The company noted a 55% year-over-year increase in revenues in Q1 driven by an increased number of Lapiplasty procedure kits sold as a result of an expanded customer base and an increase in average selling prices. The raised guidance for 2022 also buoys optimism.

This orthopedic medical device maker is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of -110%. Revenues are expected to be $28.71 million, up 39% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Treace Medical Concepts, the consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TMCI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Treace Medical Concepts is part of the Zacks Medical - Instruments industry. Apollo Endosurgery, Inc. APEN, another stock in the same industry, closed the last trading session 1.6% higher at $3.71. APEN has returned -8.3% in the past month.

Apollo Endosurgery, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. Compared to the company's year-ago EPS, this represents a change of -90.9%. Apollo Endosurgery, Inc. currently boasts a Zacks Rank of #3 (Hold).


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