Treace Medical Concepts (NASDAQ:TMCI) Coverage Initiated at Lake Street Capital

Lake Street Capital began coverage on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $14.50 target price on the stock.

TMCI has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Stifel Nicolaus upped their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Treace Medical Concepts presently has an average rating of “Hold” and a consensus price target of $8.98.

Treace Medical Concepts Trading Up 8.1 %

Treace Medical Concepts stock opened at $7.44 on Tuesday. The firm has a market cap of $463.49 million, a PE ratio of -7.52 and a beta of 0.66. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98. The stock’s 50 day simple moving average is $7.14 and its two-hundred day simple moving average is $6.53. 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 (NASDAQ:TMCI) last posted its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm had revenue of $45.09 million during 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 revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in TMCI. JPMorgan Chase & Co. increased its position in shares of Treace Medical Concepts by 215.1% during the third 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 in the last quarter. Franklin Resources Inc. acquired a new stake in Treace Medical Concepts during the 3rd quarter worth $212,000. Virtu Financial LLC purchased a new stake in shares of Treace Medical Concepts during the third quarter worth $148,000. Barclays PLC raised its position in shares of Treace Medical Concepts by 352.2% in the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after buying an additional 62,073 shares during the last quarter. Finally, Wolverine Trading LLC lifted its stake in shares of Treace Medical Concepts by 17.7% in the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after buying an additional 1,946 shares in the last quarter. Hedge funds and other institutional investors 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.