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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.98.

TMCI has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Truist Financial raised their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a report on Wednesday, December 18th. Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI opened at $7.30 on Monday. The firm has a market cap of $454.77 million, a price-to-earnings ratio of -7.37 and a beta of 0.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98. The firm’s fifty day moving average price is $7.63 and its 200 day moving average price is $6.63.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. The business 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 30.33% and a negative return on equity of 51.12%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. On average, sell-side analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $1,114,000. FMR LLC grew its holdings in Treace Medical Concepts by 228.5% during the 3rd quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after buying an additional 54,353 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Treace Medical Concepts in the third quarter worth $58,000. Barclays PLC lifted 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 acquiring an additional 62,073 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Treace Medical Concepts during the third quarter valued at $212,000. 84.08% of the stock is owned by institutional investors and hedge funds.

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.