Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Recommendation of “Hold” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.88.

A number of research analysts have commented on TMCI shares. Stifel Nicolaus increased their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, Truist Financial boosted their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday, December 18th.

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in TMCI. Quarry LP acquired a new position in shares of Treace Medical Concepts during the third quarter valued at $38,000. HighTower Advisors LLC bought a new position in Treace Medical Concepts in the 3rd quarter worth about $58,000. Nisa Investment Advisors LLC increased its stake in shares of Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after purchasing an additional 9,245 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Treace Medical Concepts by 243.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after buying an additional 7,522 shares during the last quarter. Finally, Palumbo Wealth Management LLC acquired a new position in shares of Treace Medical Concepts during the third quarter worth approximately $75,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Up 0.1 %

Shares of NASDAQ:TMCI opened at $6.97 on Thursday. The firm has a market cap of $434.21 million, a PE ratio of -7.04 and a beta of 0.66. The company has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $6.50. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last released its 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. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the previous year, the firm earned ($0.28) EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Treace Medical Concepts will post -0.92 EPS 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.