Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $12.71 Consensus Price Target from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.71.

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus cut shares of Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $6.00 in a research report on Wednesday, May 8th. BTIG Research cut shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. UBS Group increased their target price on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. cut shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $8.00 in a research report on Wednesday, May 8th.

Treace Medical Concepts Trading Up 3.3 %

Shares of TMCI stock opened at $6.18 on Friday. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $16.98. The stock has a market cap of $383.21 million, a price-to-earnings ratio of -7.02 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. The firm has a fifty day moving average of $6.75 and a 200-day moving average of $9.50.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The business had revenue of $44.46 million during the quarter, compared to analyst estimates of $43.00 million. Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) EPS. On average, equities research analysts forecast that Treace Medical Concepts will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard W. Mott acquired 12,100 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average price of $4.99 per share, with a total value of $60,379.00. Following the acquisition, the director now directly owns 1,054,944 shares in the company, valued at $5,264,170.56. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Treace Medical Concepts news, Director Richard W. Mott bought 12,100 shares of Treace Medical Concepts stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average price of $4.99 per share, with a total value of $60,379.00. Following the purchase, the director now owns 1,054,944 shares of the company’s stock, valued at $5,264,170.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James T. Treace bought 25,000 shares of Treace Medical Concepts stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $6.05 per share, for a total transaction of $151,250.00. Following the purchase, the director now directly owns 1,139,441 shares in the company, valued at approximately $6,893,618.05. The disclosure for this purchase can be found here. Insiders have purchased a total of 217,100 shares of company stock valued at $1,239,729 in the last 90 days. 24.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Armistice Capital LLC boosted its stake in shares of Treace Medical Concepts by 123.3% in the 2nd quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after purchasing an additional 2,960,000 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock valued at $24,483,000 after acquiring an additional 1,352,207 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Treace Medical Concepts by 22.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock valued at $22,301,000 after acquiring an additional 315,691 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Treace Medical Concepts by 5.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after acquiring an additional 76,030 shares during the period. Finally, Norges Bank acquired a new stake in shares of Treace Medical Concepts in the 4th quarter valued at approximately $8,725,000. Institutional investors own 84.08% of the company’s stock.

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.