Treace Medical Concepts (NASDAQ:TMCI) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research note published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $14.50 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, Truist Financial boosted their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.98.

Treace Medical Concepts Stock Up 8.1 %

Shares of NASDAQ TMCI opened at $7.44 on Tuesday. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $15.98. The stock’s fifty day simple moving average is $7.14 and its two-hundred day simple moving average is $6.53. The stock has a market capitalization of $463.49 million, a PE ratio of -7.52 and a beta of 0.66. 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 issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating 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 return on equity of 51.12% and a negative net margin of 30.33%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) earnings per share. As a group, analysts expect that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC increased its holdings in shares of Treace Medical Concepts by 123.3% in the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after purchasing an additional 2,960,000 shares during the period. William Blair Investment Management LLC increased its holdings in Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after buying an additional 1,352,207 shares during the period. JPMorgan Chase & Co. raised its position in Treace Medical Concepts by 215.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after buying an additional 861,689 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Treace Medical Concepts during the 2nd quarter valued at approximately $2,412,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter valued at $2,247,000. Institutional investors and hedge funds 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.