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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.98.

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price on the stock. Truist Financial lifted their price target 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th.

Institutional Trading of Treace Medical Concepts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC boosted its position in shares of Treace Medical Concepts by 123.3% during the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock valued at $35,644,000 after buying an additional 2,960,000 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Treace Medical Concepts by 58.0% in the second quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after acquiring an additional 1,352,207 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Treace Medical Concepts by 215.1% during the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock valued at $7,321,000 after purchasing an additional 861,689 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Treace Medical Concepts during the second quarter valued at approximately $2,412,000. Finally, Marshall Wace LLP boosted its holdings in Treace Medical Concepts by 65.9% in the second quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock worth $3,079,000 after purchasing an additional 183,921 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of TMCI stock opened at $8.71 on Monday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $15.98. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $6.70. The company has a market cap of $542.63 million, a P/E ratio of -8.80 and a beta of 0.69.

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