Treace Medical Concepts’ (TMCI) Equal Weight Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research report sent to investors on Tuesday morning, Benzinga reports. Stephens currently has a $25.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Truist Financial reduced their price objective on Treace Medical Concepts from $33.00 to $30.00 and set a buy rating on the stock in a research note on Wednesday, August 9th. BTIG Research reduced their price objective on Treace Medical Concepts from $32.00 to $27.50 and set a buy rating on the stock in a research note on Monday, August 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $27.90.

Treace Medical Concepts Stock Up 7.2 %

NASDAQ TMCI opened at $15.22 on Tuesday. The stock’s 50-day moving average price is $19.51 and its 200-day moving average price is $23.13. The company has a quick ratio of 5.73, a current ratio of 6.60 and a debt-to-equity ratio of 0.35. Treace Medical Concepts has a 52 week low of $13.47 and a 52 week high of $27.97. The company has a market capitalization of $936.71 million, a P/E ratio of -19.75 and a beta of 0.01.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. The firm had revenue of $41.95 million for the quarter, compared to the consensus estimate of $40.84 million. Treace Medical Concepts had a negative return on equity of 39.29% and a negative net margin of 25.32%. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) earnings per share. On average, equities research analysts predict that Treace Medical Concepts will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TMCI. Altshuler Shaham Ltd bought a new position in shares of Treace Medical Concepts in the 4th quarter worth $25,000. UBS Group AG raised its position in shares of Treace Medical Concepts by 79.1% in the 3rd quarter. UBS Group AG now owns 1,442 shares of the company’s stock worth $32,000 after acquiring an additional 637 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Treace Medical Concepts in the 2nd quarter worth $33,000. Tower Research Capital LLC TRC increased its position in Treace Medical Concepts by 72.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,785 shares of the company’s stock valued at $46,000 after buying an additional 752 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in Treace Medical Concepts during the 4th quarter valued at about $52,000. 61.85% of the stock is owned by institutional investors.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices for physicians, surgeons, ambulatory surgery centers, and hospitals 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.