Treace Medical Concepts (NASDAQ:TMCI) Price Target Lowered to $6.50 at UBS Group

Treace Medical Concepts (NASDAQ:TMCI) had its price objective cut by analysts at UBS Group from $8.60 to $6.50 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 1.72% from the company’s current price.

TMCI has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Friday. 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 research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.83.

Treace Medical Concepts Price Performance

Shares of TMCI stock traded up $0.26 during trading on Friday, hitting $6.39. The company had a trading volume of 515,225 shares, compared to its average volume of 395,396. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79. 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 stock’s 50-day moving average is $5.81 and its two-hundred day moving average is $7.26. The stock has a market capitalization of $401.87 million, a price-to-earnings ratio of -8.09 and a beta of 0.68.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $47.39 million for the quarter, compared to analysts’ expectations of $47.08 million. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 45.66%. As a group, analysts predict that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 1.3% during the second quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock valued at $18,227,000 after acquiring an additional 39,283 shares in the last quarter. Gagnon Securities LLC lifted its position in shares of Treace Medical Concepts by 28.8% during the 2nd quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company’s stock valued at $13,231,000 after buying an additional 503,612 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after buying an additional 714,984 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Treace Medical Concepts by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,119,581 shares of the company’s stock valued at $6,584,000 after buying an additional 32,438 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Treace Medical Concepts by 82.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock valued at $5,339,000 after buying an additional 409,105 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Company Profile

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.