Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $9.83

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.8333.

Several equities analysts have recently issued reports on TMCI shares. UBS Group reiterated a “neutral” rating and issued a $6.50 price target (down previously from $8.60) on shares of Treace Medical Concepts in a research note on Friday, August 8th. Truist Financial lifted their price target on Treace Medical Concepts from $6.60 to $8.00 and gave the company a “hold” rating in a research note on Thursday, September 4th. Finally, Stifel Nicolaus decreased their price target on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, August 8th.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in shares of Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after acquiring an additional 3,674 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at $62,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at $1,577,000. BNP Paribas Financial Markets boosted its holdings 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 valued at $958,000 after acquiring an additional 7,898 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its holdings 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 valued at $305,000 after acquiring an additional 11,634 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 0.1%

Shares of NASDAQ:TMCI opened at $6.90 on Friday. The company has a market capitalization of $435.87 million, a P/E ratio of -8.73 and a beta of 0.71. Treace Medical Concepts has a 1 year low of $4.54 and a 1 year high of $10.79. 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 business’s 50 day simple moving average is $6.60 and its 200 day simple moving average is $6.71.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%.The company had revenue of $47.39 million for the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

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.