Treace Medical Concepts' (TMCI) "Neutral" Rating Reaffirmed at JPMorgan Chase & Co.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $8.00 target price on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 7.31% from the company's current price.

Several other equities research analysts have also recently issued reports on TMCI. Stifel Nicolaus raised their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Truist Financial decreased their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.40.

Treace Medical Concepts Trading Down 1.8 %

NASDAQ TMCI traded down $0.13 during mid-day trading on Tuesday, reaching $7.46. 258,796 shares of the stock were exchanged, compared to its average volume of 789,189. The business's fifty day simple moving average is $6.79 and its 200 day simple moving average is $6.45. 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 stock has a market capitalization of $464.45 million, a PE ratio of -7.50 and a beta of 0.66. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $15.98.

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, beating 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 business had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the previous year, the business earned ($0.28) earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several large investors have recently modified their holdings of TMCI. Acadian Asset Management LLC acquired a new stake in Treace Medical Concepts during the 2nd quarter valued at approximately $2,247,000. Lighthouse Investment Partners LLC acquired a new stake in Treace Medical Concepts in the second quarter valued at $1,114,000. Point72 Asset Management L.P. bought a new position in Treace Medical Concepts during the 2nd quarter valued at $2,412,000. Nisa Investment Advisors LLC grew its holdings in Treace Medical Concepts by 34,240.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company's stock worth $62,000 after acquiring an additional 9,245 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Treace Medical Concepts by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company's stock worth $135,000 after acquiring an additional 2,160 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.