Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $7.30

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given an average rating of “Hold” by the six analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.30.

A number of brokerages recently issued reports on TMCI. Morgan Stanley upped their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. UBS Group upped their price objective on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Truist Financial lowered their target price on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $5.24 on Friday. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $15.98. The firm has a market capitalization of $324.92 million, a price-to-earnings ratio of -5.89 and a beta of 0.20. The company has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $7.46. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47.

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). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The firm had revenue of $44.46 million during the quarter, compared to analysts’ expectations of $43.00 million. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Treace Medical Concepts will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John T. Treace bought 50,000 shares of the stock in a transaction on Monday, September 16th. The stock was bought at an average price of $5.31 per share, with a total value of $265,500.00. Following the completion of the purchase, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Treace Medical Concepts news, CEO John T. Treace purchased 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $5.31 per share, with a total value of $265,500.00. Following the completion of the transaction, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John T. Treace purchased 85,000 shares of Treace Medical Concepts stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 219,000 shares of company stock valued at $1,276,140 over the last 90 days. 24.43% of the stock is owned by company insiders.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in TMCI. Gabelli Funds LLC raised its holdings in Treace Medical Concepts by 1.5% in the fourth quarter. Gabelli Funds LLC now owns 143,359 shares of the company’s stock valued at $1,828,000 after acquiring an additional 2,107 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Treace Medical Concepts by 100.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after acquiring an additional 3,567 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in Treace Medical Concepts by 11.4% in the first quarter. Oak Ridge Investments LLC now owns 126,221 shares of the company’s stock valued at $1,647,000 after acquiring an additional 12,914 shares in the last quarter. RiverPark Advisors LLC raised its holdings in Treace Medical Concepts by 763.9% in the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock valued at $117,000 after acquiring an additional 7,952 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in Treace Medical Concepts in the first quarter valued at approximately $718,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

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.