Treace Medical Concepts (NASDAQ:TMCI) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Treace Medical Concepts (NASDAQ:TMCI) in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has a $8.00 price target on the stock.

Several other brokerages also recently weighed in on TMCI. Truist Financial reduced their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus boosted their price target 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. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Treace Medical Concepts presently has an average rating of “Hold” and a consensus price target of $7.40.

Treace Medical Concepts Trading Down 1.8 %

Treace Medical Concepts stock opened at $7.46 on Tuesday. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98. The company has a market capitalization of $464.45 million, a price-to-earnings ratio of -7.53 and a beta of 0.66. The business’s fifty day simple moving average is $6.83 and its two-hundred day simple moving average is $6.46. 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 announced its quarterly earnings results 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. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company had revenue of $45.09 million for the quarter, compared to analysts’ expectations of $43.48 million. During the same quarter in the previous year, the business posted ($0.28) EPS. Treace Medical Concepts’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in TMCI. Franklin Resources Inc. bought a new position in Treace Medical Concepts in the third quarter worth approximately $212,000. Virtu Financial LLC bought a new position in Treace Medical Concepts in the 3rd quarter worth $148,000. Barclays PLC lifted its position in Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after purchasing an additional 62,073 shares in the last quarter. Wolverine Trading LLC lifted its position in Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after purchasing an additional 1,946 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Treace Medical Concepts by 4.2% during the 3rd quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after acquiring an additional 39,907 shares during the period. 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.