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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.16.

Several analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of 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. UBS Group dropped 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.

Treace Medical Concepts Stock Up 0.4%

TMCI opened at $5.46 on Thursday. Treace Medical Concepts has a fifty-two week low of $4.54 and a fifty-two week high of $10.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50. The company has a fifty day moving average of $6.43 and a two-hundred day moving average of $7.78. The stock has a market capitalization of $343.38 million, a price-to-earnings ratio of -6.42 and a beta of 0.68.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative net margin of 25.14% and a negative return on equity of 48.69%. The company had revenue of $52.57 million during the quarter, compared to analysts’ expectations of $52.07 million. During the same quarter in the previous year, the company earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Trading of Treace Medical Concepts

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Treace Medical Concepts during the fourth quarter worth about $69,000. CWM LLC boosted its position in Treace Medical Concepts by 126.0% during the first quarter. CWM LLC now owns 8,706 shares of the company’s stock worth $73,000 after acquiring an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Treace Medical Concepts during the fourth quarter worth about $77,000. Bayesian Capital Management LP acquired a new position in Treace Medical Concepts during the fourth quarter worth about $77,000. Finally, GAMMA Investing LLC boosted its position in Treace Medical Concepts by 10,236.0% during the first quarter. GAMMA Investing LLC now owns 10,336 shares of the company’s stock worth $87,000 after acquiring an additional 10,236 shares during the last quarter. 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.