Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $7.40 Average Price Target from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $7.40.

TMCI has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on 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. Stifel Nicolaus increased their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, UBS Group boosted their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

Treace Medical Concepts Price Performance

Shares of TMCI stock opened at $8.52 on Friday. The firm’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $6.22. 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 52-week low of $3.92 and a 52-week high of $15.98. The stock has a market cap of $530.80 million, a PE ratio of -8.61 and a beta of 0.24.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results 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. The business had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned ($0.28) EPS. As a group, analysts forecast that Treace Medical Concepts will post -0.92 EPS for the current year.

Insider Activity

In other news, CEO John T. Treace purchased 50,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $5.31 per share, with a total value of $265,500.00. Following the purchase, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. This trade represents a 0.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 24.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 worth $31,000 after acquiring an additional 4,508 shares during the last quarter. Quarry LP acquired a new position in Treace Medical Concepts during the third quarter worth $38,000. HighTower Advisors LLC acquired a new position in Treace Medical Concepts during the third quarter worth $58,000. Nisa Investment Advisors LLC increased its stake in Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after buying an additional 9,245 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of 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 worth $62,000 after purchasing an additional 7,522 shares in the last quarter. 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.