Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $12.21 Average Price Target from Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have covered the stock in the last year is $12.21.

Several analysts have recently commented on TMCI shares. Morgan Stanley cut Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $5.50 in a research report on Wednesday, May 8th. Stifel Nicolaus cut Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Wednesday, May 8th. Truist Financial cut Treace Medical Concepts from a “buy” rating to a “hold” rating and reduced their price objective for the company from $17.00 to $7.00 in a research report on Wednesday, May 8th. BTIG Research cut Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Finally, UBS Group cut Treace Medical Concepts from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $6.50 in a research report on Thursday, May 16th.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, Director Richard W. Mott acquired 36,802 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the purchase, the director now owns 1,027,753 shares of the company’s stock, valued at approximately $4,501,558.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard W. Mott purchased 36,802 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the purchase, the director now directly owns 1,027,753 shares of the company’s stock, valued at approximately $4,501,558.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John T. Treace purchased 45,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average price of $5.88 per share, for a total transaction of $264,600.00. Following the completion of the purchase, the chief executive officer now directly owns 6,388,095 shares of the company’s stock, valued at $37,561,998.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 593,902 shares of company stock worth $2,930,422. Company insiders own 24.43% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently modified their holdings of TMCI. Quest Partners LLC bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at approximately $68,000. Newbridge Financial Services Group Inc. grew its stake in shares of Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after purchasing an additional 3,567 shares during the period. RiverPark Advisors LLC grew its stake in shares of Treace Medical Concepts by 763.9% in the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock valued at $117,000 after purchasing an additional 7,952 shares during the period. Trexquant Investment LP bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at approximately $132,000. Finally, Spouting Rock Asset Management LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $148,000. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI opened at $6.65 on Thursday. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $412.37 million, a price-to-earnings ratio of -7.56 and a beta of 0.18. The stock’s fifty day simple moving average is $6.94 and its 200 day simple moving average is $10.78. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $25.76.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, hitting the consensus estimate of ($0.30). The business had revenue of $51.11 million during the quarter, compared to analysts’ expectations of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. Treace Medical Concepts’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts forecast that Treace Medical Concepts will post -0.89 earnings per share for the current fiscal year.

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.