Yahoo Finance Treace Medical Concepts (TMCI) Surges 7.6%: Is This an Indication of Further Gains?
Treace Medical Concepts (TMCI) shares ended the last trading session 7.6% higher at $27.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks.
Treace Medical Concepts scored a strong price increase, on investors’ optimism driven by the company’s recent publication of the inaugural Environmental, Social and Governance (ESG) report. The report reiterates the company’s commitment to improve surgical outcomes for bunion patients, while prioritising ESG factors for operating business responsibly.
This orthopedic medical device maker is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -50%. Revenues are expected to be $39.57 million, up 36.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Treace Medical Concepts, the consensus EPS estimate for the quarter has been revised 20% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Integer (ITGR), finished the last trading session 0.7% lower at $76.31. ITGR has returned 1% over the past month.
Integer's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.82. Compared to the company's year-ago EPS, this represents a change of +5.1%. Integer currently boasts a Zacks Rank of #3 (Hold).
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Treace Medical Concepts, Inc. (TMCI) : Free Stock Analysis Report
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