Treace Medical Concepts (NASDAQ:TMCI) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Treace Medical Concepts (NASDAQ:TMCI - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $14.50 target price on the stock.

Other analysts have also recently issued research reports about the stock. Truist Financial upped their target price on shares of 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. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.98.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI traded up $0.56 during trading on Tuesday, reaching $7.44. The stock had a trading volume of 466,782 shares, compared to its average volume of 769,880. The firm has a market capitalization of $463.49 million, a price-to-earnings ratio of -7.52 and a beta of 0.66. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $15.98. The stock has a fifty day simple moving average of $7.14 and a two-hundred day simple moving average of $6.53.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, topping 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 company had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter last year, the company earned ($0.28) EPS. The company's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Treace Medical Concepts in the 3rd quarter valued at about $38,000. HighTower Advisors LLC acquired a new position in shares of Treace Medical Concepts during the 3rd quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Treace Medical Concepts by 243.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company's stock valued at $62,000 after buying an additional 7,522 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in shares of Treace Medical Concepts in the third quarter valued at approximately $75,000. Finally, Walleye Capital LLC acquired a new stake in Treace Medical Concepts during the third quarter worth approximately $75,000. 84.08% of the stock is currently owned by institutional investors.

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.