Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Rating of “Hold” by Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.16.

A number of analysts have recently weighed in on the company. Truist Financial cut their target price on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research report on Friday, April 11th. UBS Group cut their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a research report on Friday, May 9th.

Treace Medical Concepts Trading Down 3.4%

TMCI stock opened at $6.00 on Monday. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79. The company has a market capitalization of $377.34 million, a PE ratio of -7.06 and a beta of 0.69. The company’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $7.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.07 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Trading of Treace Medical Concepts

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new position in shares of Treace Medical Concepts in the second quarter worth about $28,000. Quantbot Technologies LP acquired a new position in Treace Medical Concepts during the 4th quarter worth approximately $69,000. CWM LLC lifted its stake in Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company’s stock valued at $73,000 after purchasing an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Treace Medical Concepts in the 4th quarter valued at approximately $77,000. Finally, Bayesian Capital Management LP acquired a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $77,000. 84.08% of the stock is owned by institutional investors and hedge funds.

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.