Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Rating of “Hold” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.8333.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 8th. UBS Group reissued a “neutral” rating and set a $6.50 price objective (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new position in Treace Medical Concepts in the second quarter valued at $62,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter worth about $1,577,000. BNP Paribas Financial Markets lifted its stake in shares of Treace Medical Concepts by 5.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock worth $958,000 after buying an additional 7,898 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in shares of Treace Medical Concepts by 28.9% during the 2nd quarter. Brevan Howard Capital Management LP now owns 51,878 shares of the company’s stock worth $305,000 after buying an additional 11,634 shares during the last quarter. Finally, Birchview Capital LP lifted its stake in shares of Treace Medical Concepts by 7.3% during the 2nd quarter. Birchview Capital LP now owns 176,947 shares of the company’s stock worth $1,040,000 after buying an additional 12,000 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 3.0%

Shares of NASDAQ TMCI opened at $7.47 on Tuesday. The company’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $7.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.52 and a quick ratio of 2.51. The firm has a market capitalization of $471.88 million, a P/E ratio of -9.46 and a beta of 0.68. Treace Medical Concepts has a fifty-two week low of $4.54 and a fifty-two week high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. The company had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. On average, analysts predict 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.