Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $7.88 Average Target Price from Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.88.

TMCI has been the subject of several analyst reports. Truist Financial raised their price objective on Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday. Stifel Nicolaus increased their price objective 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, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a report on Tuesday, December 17th.

Treace Medical Concepts Trading Up 0.9 %

Shares of TMCI stock opened at $6.96 on Thursday. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $433.59 million, a price-to-earnings ratio of -7.03 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 moving average price is $6.94 and its 200-day moving average price is $6.48.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.02. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The business had revenue of $45.09 million for the quarter, compared to analysts’ expectations of $43.48 million. During the same period in the prior year, the firm earned ($0.28) EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Treace Medical Concepts during the third quarter worth $38,000. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts in the 3rd quarter worth approximately $58,000. Nisa Investment Advisors LLC grew 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 purchasing an additional 9,245 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Treace Medical Concepts by 243.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after purchasing an additional 7,522 shares in the last quarter. Finally, Palumbo Wealth Management LLC purchased a new position in shares of Treace Medical Concepts in the third quarter worth $75,000. 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.