Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $10.25

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $7.30.

A number of research firms have commented on TMCI. Truist Financial cut their price objective on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a report on Wednesday, August 7th. UBS Group increased their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley upped their target price on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $5.01 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.98. The firm has a market capitalization of $310.66 million, a PE ratio of -5.69 and a beta of 0.21. The business’s 50 day moving average price is $6.58 and its 200-day moving average price is $8.18.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The business had revenue of $44.46 million for the quarter, compared to analyst estimates of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) EPS. As a group, equities research analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Treace Medical Concepts news, Director James T. Treace purchased 84,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $5.96 per share, with a total value of $500,640.00. Following the purchase, the director now directly owns 1,223,441 shares in the company, valued at approximately $7,291,708.36. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James T. Treace acquired 84,000 shares of Treace Medical Concepts stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the acquisition, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Treace bought 85,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now directly owns 6,473,095 shares of the company’s stock, valued at $38,838,570. The disclosure for this purchase can be found here. 24.43% of the stock is owned by insiders.

Institutional Trading of Treace Medical Concepts

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Treace Medical Concepts during the fourth quarter worth $8,725,000. Trexquant Investment LP purchased a new stake in Treace Medical Concepts during the fourth quarter worth about $132,000. Quest Partners LLC purchased a new stake in Treace Medical Concepts during the fourth quarter worth about $68,000. Capstone Investment Advisors LLC acquired a new stake in shares of Treace Medical Concepts during the fourth quarter worth about $163,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Treace Medical Concepts by 5.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after purchasing an additional 76,030 shares during the period. Institutional investors and hedge funds 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.