Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $8.98 Average PT from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has been given a consensus rating of "Hold" by the seven research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.98.

Several equities analysts have recently weighed in on TMCI shares. Truist Financial boosted their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $8.00 target price on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a "buy" rating and a $14.50 price target on the stock.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Treace Medical Concepts in the third quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts in the 3rd quarter worth $58,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Treace Medical Concepts by 243.4% during 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 in the last quarter. Palumbo Wealth Management LLC purchased a new position in shares of Treace Medical Concepts during the third quarter valued at $75,000. Finally, Walleye Capital LLC purchased a new position in shares of Treace Medical Concepts during the third quarter valued at $75,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Trading Down 3.6 %

Shares of TMCI opened at $7.30 on Monday. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $15.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The company's fifty day moving average is $7.63 and its 200 day moving average is $6.63. The stock has a market capitalization of $454.77 million, a PE ratio of -7.37 and a beta of 0.69.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to analysts' expectations 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 was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) EPS. Sell-side analysts expect that Treace Medical Concepts will post -0.92 earnings per share 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.