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Strength Seen in Treace Medical Concepts (TMCI): Can Its 8.4% Jump Turn into More Strength?
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Treace Medical Concepts (TMCI - Free Report) shares ended the last trading session 8.4% higher at $23.53. 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 11.7% gain over the past four weeks.
Treace Medical Concepts scored a strong price rise on investors’ optimism surrounding its impressive top-line results. The company reported revenue growth of 45% in the second quarter, and 50% in the first half of 2022. According to management, the company exhibited continued gains in key operating metrics led by the underlying strength of its business and effective execution of commercial strategies. The Zacks Consensus Estimate for the company’s full-year 2022 revenues is pegged at $132.4 million, suggesting an increase of 40.2% on a year over year basis.
This orthopedic medical device maker is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -133.3%. Revenues are expected to be $30.1 million, up 39.2% 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 26.9% 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.
Treace Medical Concepts is part of the Zacks Medical - Instruments industry. Avanos Medical (AVNS - Free Report) , another stock in the same industry, closed the last trading session 2.7% higher at $25.42. AVNS has returned -12.6% in the past month.
For Avanos Medical, the consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.36. This represents a change of +44% from what the company reported a year ago. Avanos Medical currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Treace Medical Concepts (TMCI): Can Its 8.4% Jump Turn into More Strength?
Treace Medical Concepts (TMCI - Free Report) shares ended the last trading session 8.4% higher at $23.53. 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 11.7% gain over the past four weeks.
Treace Medical Concepts scored a strong price rise on investors’ optimism surrounding its impressive top-line results. The company reported revenue growth of 45% in the second quarter, and 50% in the first half of 2022. According to management, the company exhibited continued gains in key operating metrics led by the underlying strength of its business and effective execution of commercial strategies. The Zacks Consensus Estimate for the company’s full-year 2022 revenues is pegged at $132.4 million, suggesting an increase of 40.2% on a year over year basis.
This orthopedic medical device maker is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -133.3%. Revenues are expected to be $30.1 million, up 39.2% 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 26.9% 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 part of the Zacks Medical - Instruments industry. Avanos Medical (AVNS - Free Report) , another stock in the same industry, closed the last trading session 2.7% higher at $25.42. AVNS has returned -12.6% in the past month.
For Avanos Medical, the consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.36. This represents a change of +44% from what the company reported a year ago. Avanos Medical currently has a Zacks Rank of #4 (Sell).