Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $8.98 Consensus Target Price from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given an average rating of “Hold” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.98.

TMCI has been the subject of a number of research analyst reports. Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Stifel Nicolaus raised their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Truist Financial boosted their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research report on Wednesday, December 18th.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI opened at $8.71 on Monday. The stock has a market cap of $542.63 million, a PE ratio of -8.80 and a beta of 0.69. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98. The firm has a fifty day moving average price of $7.77 and a 200-day moving average price of $6.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly 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 51.12% and a negative net margin of 30.33%. The business had revenue of $45.09 million for the quarter, compared to analysts’ expectations of $43.48 million. During the same period last year, the firm earned ($0.28) earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in Treace Medical Concepts in the third quarter worth $38,000. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts in the third quarter worth about $58,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Treace Medical Concepts by 243.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after buying an additional 7,522 shares during the period. Palumbo Wealth Management LLC purchased a new stake in Treace Medical Concepts in the 3rd quarter valued at about $75,000. Finally, Walleye Capital LLC purchased a new stake in Treace Medical Concepts in the 3rd quarter valued at about $75,000. 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.