Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $8.98 Consensus Target Price from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.98.

A number of analysts have recently issued reports on the company. Lake Street Capital began coverage on Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Stifel Nicolaus raised their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Truist Financial upped their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research report on Wednesday, December 18th.

Institutional Trading of Treace Medical Concepts

Hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC grew its stake in shares of Treace Medical Concepts by 123.3% during the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after buying an additional 2,960,000 shares during the last quarter. William Blair Investment Management LLC grew its position in Treace Medical Concepts by 58.0% during the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after acquiring an additional 1,352,207 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after purchasing an additional 861,689 shares during the period. State Street Corp lifted its position in Treace Medical Concepts by 4.2% in the third quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after purchasing an additional 39,907 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Treace Medical Concepts by 65.9% during the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after purchasing an additional 183,921 shares during the period. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock opened at $8.71 on Monday. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $542.63 million, a PE ratio of -8.80 and a beta of 0.69. The firm’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $6.68.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to analysts’ expectations of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Treace Medical Concepts Company Profile

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.