Stifel Nicolaus Has Lowered Expectations for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Treace Medical Concepts (NASDAQ:TMCI) had its target price dropped by research analysts at Stifel Nicolaus from $9.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential downside of 2.12% from the stock’s previous close.

TMCI has been the subject of a number of other reports. Truist Financial dropped their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a report on Friday, April 11th. UBS Group dropped their price objective on Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.83.

Treace Medical Concepts Trading Up 7.9%

TMCI stock opened at $6.13 on Friday. The company has a market cap of $385.52 million, a price-to-earnings ratio of -7.76 and a beta of 0.68. The company has a quick ratio of 3.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $7.28. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative return on equity of 45.66% and a negative net margin of 23.01%. On average, equities research analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Trading of Treace Medical Concepts

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC acquired a new stake in Treace Medical Concepts in the 2nd quarter valued at $28,000. CWM LLC boosted its position 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 buying an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Treace Medical Concepts in the 4th quarter valued at about $77,000. Bayesian Capital Management LP purchased a new position in Treace Medical Concepts in the 4th quarter valued at about $77,000. Finally, GAMMA Investing LLC boosted its position in Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company’s stock valued at $87,000 after buying an additional 10,236 shares during the last quarter. 84.08% of the stock is currently 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.