Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $8.98

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.98.

A number of research analysts recently weighed in on TMCI shares. Truist Financial raised 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. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price for the company. Stifel Nicolaus lifted 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 objective on shares of Treace Medical Concepts in a research report on Tuesday, December 17th.

Treace Medical Concepts Stock Up 5.7 %

Shares of TMCI stock opened at $8.47 on Monday. The company has a market capitalization of $527.66 million, a price-to-earnings ratio of -8.56 and a beta of 0.69. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $15.98. The firm has a fifty day moving average of $7.73 and a 200-day moving average of $6.66. 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 (NASDAQ:TMCI) last released its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $45.09 million during 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 for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share. As a group, equities research analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $38,000. HighTower Advisors LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $58,000. Point72 Asia Singapore Pte. Ltd. lifted its stake 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 during the last quarter. Wolverine Trading LLC lifted its stake in shares of Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after buying an additional 1,946 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter worth about $75,000. Institutional investors own 84.08% of the company’s stock.

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.