Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $8.98

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.98.

Several equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective on the stock. Truist Financial increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in Treace Medical Concepts in the third quarter worth $38,000. HighTower Advisors LLC bought a new stake in shares of Treace Medical Concepts during the third quarter worth $58,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Treace Medical Concepts by 243.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after acquiring an additional 7,522 shares in the last quarter. Wolverine Trading LLC increased its position in shares of Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after acquiring an additional 1,946 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Treace Medical Concepts during the third quarter worth $75,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Shares of TMCI stock opened at $8.47 on Monday. 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 is $7.73 and its 200-day moving average is $6.66. The firm has a market capitalization of $527.66 million, a price-to-earnings ratio of -8.56 and a beta of 0.69. 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. During the same period in the prior year, the business posted ($0.28) earnings per share. Treace Medical Concepts’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that Treace Medical Concepts will post -0.92 EPS 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.