Treace Medical Concepts’ (TMCI) Underweight Rating Reiterated at JPMorgan Chase & Co.

Treace Medical Concepts (NASDAQ:TMCI)‘s stock had its “underweight” rating restated by equities researchers at JPMorgan Chase & Co. in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $5.00 target price on the stock, down from their previous target price of $8.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 44.80% from the stock’s current price.

TMCI has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a report on Friday, August 8th. UBS Group reiterated a “neutral” rating and set a $6.50 price target (down from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Truist Financial decreased their target price on Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Treace Medical Concepts has an average rating of “Reduce” and a consensus price target of $9.17.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock traded down $2.78 during midday trading on Friday, reaching $3.45. 1,361,796 shares of the stock traded hands, compared to its average volume of 373,646. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $6.71 and a two-hundred day moving average price of $6.43. The firm has a market cap of $218.13 million, a price-to-earnings ratio of -4.37 and a beta of 0.68. Treace Medical Concepts has a fifty-two week low of $3.40 and a fifty-two week high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, January 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%.The business had revenue of $33.06 million for the quarter. On average, equities research analysts forecast that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Trading of Treace Medical Concepts

Several institutional investors have recently made changes to their positions in TMCI. Invesco Ltd. lifted its position in shares of Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares in the last quarter. Birchview Capital LP increased its position in shares of Treace Medical Concepts by 2.2% during the first quarter. Birchview Capital LP now owns 164,947 shares of the company’s stock valued at $1,384,000 after acquiring an additional 3,597 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the period. Rhumbline Advisers boosted its position in Treace Medical Concepts by 5.8% in the first quarter. Rhumbline Advisers now owns 69,916 shares of the company’s stock worth $587,000 after purchasing an additional 3,843 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Treace Medical Concepts by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 249,169 shares of the company’s stock valued at $1,540,000 after purchasing an additional 4,369 shares during the period. 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.