Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $7.88 Average PT from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given an average rating of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.88.

TMCI has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Treace Medical Concepts during the third quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts during the 3rd quarter valued at $58,000. Nisa Investment Advisors LLC lifted its stake in shares of Treace Medical Concepts by 34,240.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after buying an additional 9,245 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Treace Medical Concepts by 243.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after buying an additional 7,522 shares during the period. Finally, Palumbo Wealth Management LLC bought a new stake in Treace Medical Concepts during the third quarter valued at about $75,000. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 0.9 %

Shares of TMCI opened at $6.96 on Thursday. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98. The firm has a market capitalization of $433.59 million, a price-to-earnings ratio of -7.03 and a beta of 0.66. The firm’s 50-day moving average price is $6.94 and its 200-day moving average price is $6.48. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to the consensus estimate of $43.48 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) EPS. Sell-side analysts anticipate that Treace Medical Concepts will post -0.92 EPS for the current year.

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.