Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) PT at $7.00

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.00.

Several research analysts have commented on TMCI shares. UBS Group raised their price objective on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley raised their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Truist Financial lowered their price objective on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research note on Monday, October 14th.

Treace Medical Concepts Trading Up 2.6 %

NASDAQ TMCI opened at $4.78 on Wednesday. The stock has a market cap of $297.27 million, a PE ratio of -4.69 and a beta of 0.20. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98. The company’s 50-day moving average price is $5.37 and its 200-day moving average price is $6.53. The company has a current ratio of 3.86, a quick ratio of 2.93 and a debt-to-equity ratio of 0.47.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company had revenue of $44.46 million during the quarter, compared to the consensus estimate of $43.00 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. Treace Medical Concepts’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that Treace Medical Concepts will post -0.93 earnings per share for the current year.

Insider Activity

In other news, CEO John T. Treace bought 85,000 shares of Treace Medical Concepts stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the acquisition, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO John T. Treace bought 85,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the purchase, the chief executive officer now directly owns 6,473,095 shares in the company, valued at approximately $38,838,570. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 cost 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 represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 219,000 shares of company stock worth $1,276,140. 24.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Treace Medical Concepts during the second quarter worth $2,247,000. Lighthouse Investment Partners LLC purchased a new position in Treace Medical Concepts in the 2nd quarter worth $1,114,000. Point72 Asset Management L.P. purchased a new position in Treace Medical Concepts in the 2nd quarter worth $2,412,000. Nisa Investment Advisors LLC lifted its position in Treace Medical Concepts by 34,240.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after acquiring an additional 9,245 shares during the period. Finally, GAMMA Investing LLC grew its stake in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after purchasing an additional 4,508 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

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.