Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $10.16 Consensus Price Target from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $10.16.

Several analysts recently commented on the stock. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, February 4th. UBS Group dropped their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Truist Financial dropped their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a research note on Friday, April 11th.

Insider Buying and Selling at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now directly owns 364,081 shares of the company’s stock, valued at approximately $2,901,725.57. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.72% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Treace Medical Concepts during the 4th quarter worth about $69,000. CWM LLC grew its position in shares of Treace Medical Concepts by 126.0% during the 1st quarter. CWM LLC now owns 8,706 shares of the company’s stock worth $73,000 after buying an additional 4,853 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $77,000. Bayesian Capital Management LP bought a new position in Treace Medical Concepts during the 4th quarter worth approximately $77,000. Finally, GAMMA Investing LLC boosted its stake in Treace Medical Concepts by 10,236.0% during the 1st 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.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $6.69 on Friday. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $420.73 million, a price-to-earnings ratio of -6.76 and a beta of 0.79. The company has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $8.06.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $52.57 million during the quarter, compared to analyst estimates of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. Analysts forecast 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.