Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Target Price at $10.16

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.16.

Several research analysts have recently weighed in on the company. UBS Group cut their price target on Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a research note on Friday, May 9th. Truist Financial cut their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a report on Friday, April 11th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Treace Medical Concepts during the 4th quarter valued at approximately $69,000. CWM LLC increased its position in shares of Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company’s stock valued at $73,000 after acquiring an additional 4,853 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $77,000. Bayesian Capital Management LP acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $77,000. Finally, GAMMA Investing LLC increased its position in shares of Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company’s stock valued at $87,000 after acquiring an additional 10,236 shares during the period. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $5.76 on Thursday. The company has a market cap of $362.25 million, a price-to-earnings ratio of -5.82 and a beta of 0.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $6.51 and a 200 day simple moving average of $7.81. Treace Medical Concepts has a one year low of $4.54 and a one year high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $52.57 million during the quarter, compared to the consensus estimate of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. Treace Medical Concepts’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) earnings per share. Research analysts predict that Treace Medical Concepts will post -0.92 earnings per share 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.