Analysts Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Target Price at $8.56

by · The Markets Daily

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) has earned a consensus recommendation of “Reduce” from the seven research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.5583.

Several equities analysts recently weighed in on the company. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. Truist Financial restated a “hold” rating and issued a $4.00 price target (down previously from $7.00) on shares of Treace Medical Concepts in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Read Our Latest Analysis on TMCI

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in Treace Medical Concepts during the third quarter worth $122,199,000. Acuitas Investments LLC acquired a new stake in shares of Treace Medical Concepts during the third quarter valued at $2,020,000. Armistice Capital LLC boosted its stake in shares of Treace Medical Concepts by 0.9% during the third quarter. Armistice Capital LLC now owns 6,316,000 shares of the company’s stock valued at $42,380,000 after acquiring an additional 56,000 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after purchasing an additional 3,677 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Treace Medical Concepts in the 3rd quarter valued at about $87,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $2.74 on Thursday. The company has a quick ratio of 2.36, a current ratio of 3.37 and a debt-to-equity ratio of 0.60. Treace Medical Concepts has a 52 week low of $2.56 and a 52 week high of $10.79. The firm has a 50-day moving average price of $5.00 and a 200 day moving average price of $5.85. The stock has a market capitalization of $174.59 million, a price-to-earnings ratio of -3.43 and a beta of 0.73.

Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) last issued its earnings results on Tuesday, January 9th. The company reported ($0.22) earnings per share for the quarter. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%.The company had revenue of $33.06 million for the quarter. Equities research analysts anticipate that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Treace Medical Concepts Company Profile

(Get Free Report)

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.

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