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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have earned an average recommendation of “Reduce” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.5583.

TMCI has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. UBS Group reduced their target price on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a report on Friday, November 7th. Truist Financial restated a “hold” rating and set a $4.00 price target (down from $7.00) on shares of Treace Medical Concepts in a research report on Monday, November 10th. Finally, Wall Street Zen cut Treace Medical Concepts from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $2.86 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.37 and a quick ratio of 2.36. The business’s fifty day moving average price is $4.77 and its two-hundred day moving average price is $5.78. Treace Medical Concepts has a fifty-two week low of $2.56 and a fifty-two week high of $10.79. The stock has a market capitalization of $182.23 million, a price-to-earnings ratio of -3.58 and a beta of 0.73.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new position in Treace Medical Concepts during the 3rd quarter worth about $122,199,000. Acuitas Investments LLC bought a new position in shares of Treace Medical Concepts in the third quarter worth about $2,020,000. Armistice Capital LLC lifted its position 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 worth $42,380,000 after purchasing an additional 56,000 shares in the last quarter. Parkman Healthcare Partners LLC lifted its position in shares of Treace Medical Concepts by 0.4% during the third 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 bought a new stake in shares of Treace Medical Concepts during the third quarter valued at approximately $87,000. 84.08% of the stock is owned by institutional investors.

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.