Treace Medical Concepts (NASDAQ:TMCI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Treace Medical Concepts (NASDAQ:TMCI) had its price target raised by analysts at Stifel Nicolaus from $7.00 to $8.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 1.27% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. UBS Group boosted their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial cut their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Morgan Stanley boosted their price target on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.40.

Treace Medical Concepts Price Performance

TMCI opened at $7.90 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. The company has a market capitalization of $491.30 million, a price-to-earnings ratio of -7.92 and a beta of 0.24. The firm’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $6.35. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to the consensus estimate of $43.48 million. Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.28) EPS. As a group, analysts anticipate that Treace Medical Concepts will post -0.93 earnings per share for the current fiscal year.

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace acquired 50,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the purchase, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James T. Treace purchased 84,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the transaction, the director now directly owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John T. Treace purchased 50,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $5.31 per share, for a total transaction 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 approximately $34,637,634.45. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 219,000 shares of company stock worth $1,276,140. Company insiders own 24.43% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Treace Medical Concepts during the second quarter valued at about $2,247,000. Lighthouse Investment Partners LLC bought a new position in shares of Treace Medical Concepts in the second quarter worth approximately $1,114,000. Point72 Asset Management L.P. bought a new position in shares of Treace Medical Concepts in the second quarter worth approximately $2,412,000. Nisa Investment Advisors LLC increased its position 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 worth $62,000 after purchasing an additional 9,245 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Treace Medical Concepts by 3,441.2% in the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

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.