Analysts Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) PT at $7.88

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has been given an average recommendation of "Hold" by the six ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.88.

TMCI has been the subject of a number of research analyst reports. 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 report on Wednesday, November 6th. Truist Financial increased their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a "hold" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday.

Treace Medical Concepts Stock Down 0.6 %

Treace Medical Concepts stock traded down $0.04 during midday trading on Thursday, hitting $6.90. 281,728 shares of the company were exchanged, compared to its average volume of 785,093. The company has a market cap of $429.85 million, a PE ratio of -6.97 and a beta of 0.66. The company's fifty day moving average price is $6.87 and its 200-day moving average price is $6.46. 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 has a fifty-two week low of $3.92 and a fifty-two week high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million for the quarter, compared to the consensus estimate 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 firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.28) EPS. On average, research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC increased its holdings 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 purchasing an additional 2,960,000 shares during the period. William Blair Investment Management LLC increased its stake in Treace Medical Concepts by 58.0% during the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company's stock valued at $24,483,000 after buying an additional 1,352,207 shares during the period. Point72 Asset Management L.P. acquired a new position in Treace Medical Concepts during the 2nd quarter valued at about $2,412,000. Acadian Asset Management LLC bought a new stake in shares of Treace Medical Concepts during the 2nd quarter worth about $2,247,000. Finally, Marshall Wace LLP lifted its stake in shares of Treace Medical Concepts by 65.9% in the 2nd quarter. Marshall Wace LLP now owns 463,039 shares of the company's stock worth $3,079,000 after acquiring an additional 183,921 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.