Treace Medical Concepts (NASDAQ:TMCI) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $14.50 price target on the stock.

Several other equities research analysts have also commented on TMCI. Truist Financial increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus lifted their price target on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.98.

Treace Medical Concepts Trading Up 5.8 %

Shares of Treace Medical Concepts stock opened at $7.87 on Tuesday. The company has a market capitalization of $490.28 million, a P/E ratio of -7.95 and a beta of 0.66. The stock has a fifty day simple moving average of $7.23 and a 200 day simple moving average of $6.55. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $15.98. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to the consensus estimate of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.28) EPS. On average, sell-side analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Treace Medical Concepts by 215.1% in the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock valued at $7,321,000 after buying an additional 861,689 shares during the period. Franklin Resources Inc. bought a new stake in Treace Medical Concepts in the 3rd quarter valued at about $212,000. Virtu Financial LLC purchased a new stake in Treace Medical Concepts during the third quarter valued at about $148,000. Barclays PLC boosted its position in Treace Medical Concepts by 352.2% during the third quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after purchasing an additional 62,073 shares during the period. Finally, Wolverine Trading LLC increased its stake in shares of Treace Medical Concepts by 17.7% in the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after purchasing an additional 1,946 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.