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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.98.

A number of research firms have recently commented on TMCI. Stifel Nicolaus upped 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. 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. Truist Financial boosted their price objective on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th.

Treace Medical Concepts Stock Down 3.6 %

Shares of NASDAQ TMCI opened at $7.30 on Monday. The firm has a market cap of $454.77 million, a P/E ratio of -7.37 and a beta of 0.69. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98. The firm’s 50 day moving average price is $7.63 and its 200 day moving average price is $6.63.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the previous year, the business earned ($0.28) earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently made changes to their positions in TMCI. JPMorgan Chase & Co. increased its holdings in Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock valued at $7,321,000 after purchasing an additional 861,689 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Treace Medical Concepts during the 3rd quarter valued at about $212,000. Virtu Financial LLC acquired a new position in Treace Medical Concepts during the 3rd quarter worth approximately $148,000. Barclays PLC boosted its holdings in Treace Medical Concepts by 352.2% in the 3rd quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after acquiring an additional 62,073 shares during the period. Finally, Wolverine Trading LLC grew its position in Treace Medical Concepts by 17.7% in the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after acquiring an additional 1,946 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.