UBS Group Issues Pessimistic Forecast for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Treace Medical Concepts (NASDAQ:TMCI) had its price target reduced by equities researchers at UBS Group from $6.50 to $5.85 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 51.36% from the stock’s previous close.

Several other brokerages have also recently commented on TMCI. Truist Financial lowered their target price on shares of Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday. Finally, Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Treace Medical Concepts currently has a consensus rating of “Reduce” and a consensus price target of $9.06.

Treace Medical Concepts Stock Down 38.0%

Shares of NASDAQ TMCI traded down $2.37 during mid-day trading on Friday, hitting $3.87. The company had a trading volume of 4,570,958 shares, compared to its average volume of 388,777. The company has a market capitalization of $244.15 million, a PE ratio of -4.89 and a beta of 0.68. Treace Medical Concepts has a one year low of $3.40 and a one year high of $10.79. The firm has a 50-day simple moving average of $6.71 and a two-hundred day simple moving average of $6.43. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Tuesday, January 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $33.06 million during the quarter. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. On average, equities analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CWM LLC increased its holdings in Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company’s stock worth $73,000 after purchasing an additional 4,853 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Treace Medical Concepts in the 1st quarter valued at approximately $261,000. Legato Capital Management LLC acquired a new stake in Treace Medical Concepts during the 1st quarter worth approximately $472,000. GSA Capital Partners LLP bought a new stake in Treace Medical Concepts during the 1st quarter worth approximately $560,000. Finally, XTX Topco Ltd bought a new stake in Treace Medical Concepts during the 1st quarter worth approximately $88,000. 84.08% of the stock is currently owned by institutional investors.

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.