Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of “Hold” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $7.88.

A number of equities analysts have issued reports on TMCI shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday. Stifel Nicolaus raised their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their price target on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in shares of Treace Medical Concepts during the second quarter valued at $2,247,000. Lighthouse Investment Partners LLC acquired a new stake in Treace Medical Concepts during the 2nd quarter worth about $1,114,000. Point72 Asset Management L.P. purchased a new stake in Treace Medical Concepts during the second quarter valued at about $2,412,000. Nisa Investment Advisors LLC boosted its holdings in shares of Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Treace Medical Concepts by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock worth $135,000 after acquiring an additional 2,160 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Performance

TMCI stock opened at $6.94 on Thursday. The company has a 50-day simple moving average of $6.87 and a 200 day simple moving average of $6.46. The company has a market capitalization of $432.34 million, a P/E ratio of -7.01 and a beta of 0.66. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $15.98.

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

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.