Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Target Price at $7.40

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.40.

TMCI has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target 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. UBS Group upped their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, 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.

Insider Activity at Treace Medical Concepts

In other news, CEO John T. Treace purchased 50,000 shares of Treace Medical Concepts stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $5.31 per share, with a total value of $265,500.00. Following the transaction, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. The trade was a 0.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 24.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Treace Medical Concepts

A number of large investors have recently bought and sold shares of TMCI. Armistice Capital LLC raised its stake in shares of Treace Medical Concepts by 123.3% during the 2nd quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock worth $35,644,000 after purchasing an additional 2,960,000 shares in the last quarter. William Blair Investment Management LLC raised its stake 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 valued at $24,483,000 after acquiring an additional 1,352,207 shares during the period. State Street Corp raised its stake in Treace Medical Concepts by 4.2% in the 3rd quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after acquiring an additional 39,907 shares during the period. Marshall Wace LLP raised its stake in Treace Medical Concepts by 65.9% in the 2nd quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after acquiring an additional 183,921 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Treace Medical Concepts by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company’s stock valued at $2,268,000 after acquiring an additional 17,783 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $8.28 on Friday. The stock has a market capitalization of $515.84 million, a P/E ratio of -8.36 and a beta of 0.24. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98. 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 business has a 50-day moving average price of $6.00 and a two-hundred day moving average price of $6.13.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $45.09 million during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Equities analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current year.

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.