Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $8.00

Treace Medical Concepts (NASDAQ:TMCI) had its price objective lifted by equities research analysts at Stifel Nicolaus from $7.00 to $8.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.82% from the company’s current price.

A number of other equities research analysts also recently commented on TMCI. Truist Financial reduced their target price on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a report on Monday, October 14th. UBS Group lifted their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lifted their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI traded up $1.80 during mid-day trading on Wednesday, hitting $7.56. 1,755,949 shares of the company were exchanged, compared to its average volume of 822,353. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $6.37. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98. The firm has a market cap of $470.16 million, a price-to-earnings ratio of -7.41 and a beta of 0.24.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter last year, the company earned ($0.28) earnings per share. Treace Medical Concepts’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts forecast that Treace Medical Concepts will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John T. Treace acquired 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares in the company, valued at $38,838,570. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John T. Treace acquired 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares in the company, valued at $38,838,570. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James T. Treace acquired 84,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $5.96 per share, with a total value of $500,640.00. Following the transaction, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 219,000 shares of company stock worth $1,276,140. 24.43% of the stock is owned by corporate insiders.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMCI. GAMMA Investing LLC lifted its stake in shares of Treace Medical Concepts by 3,441.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after purchasing an additional 4,508 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after purchasing an additional 9,245 shares in the last quarter. CWM LLC lifted its stake in shares of Treace Medical Concepts by 208.7% in the 2nd quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after purchasing an additional 6,826 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $75,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.