Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $10.16

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.16.

TMCI has been the topic of several recent research reports. UBS Group decreased their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating on the stock in a research report on Friday, May 9th. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial decreased their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, April 11th.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $5.88 on Friday. 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 company has a market capitalization of $369.79 million, a P/E ratio of -5.94 and a beta of 0.79. Treace Medical Concepts has a 12 month low of $4.54 and a 12 month high of $10.79. The business’s 50-day moving average is $7.23 and its 200 day moving average is $8.06.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to analysts’ expectations of $52.07 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) EPS. On average, equities research analysts forecast that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the sale, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. This represents a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently modified their holdings of TMCI. Barclays PLC raised its holdings in shares of Treace Medical Concepts by 352.2% in the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after buying an additional 62,073 shares during the period. Ballentine Partners LLC increased its stake in Treace Medical Concepts by 10.2% in the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock worth $186,000 after purchasing an additional 2,314 shares during the period. SG Americas Securities LLC increased its stake in Treace Medical Concepts by 20.4% in the fourth quarter. SG Americas Securities LLC now owns 28,404 shares of the company’s stock worth $211,000 after purchasing an additional 4,813 shares during the period. Rhumbline Advisers increased its stake in Treace Medical Concepts by 2.0% in the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after purchasing an additional 1,300 shares during the period. Finally, Palumbo Wealth Management LLC increased its stake in Treace Medical Concepts by 71.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 22,259 shares of the company’s stock worth $166,000 after buying an additional 9,263 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

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.