Treace Medical Concepts (NASDAQ:TMCI) Stock Price Down 5.2%

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) dropped 5.2% on Friday . The stock traded as low as $11.94 and last traded at $11.97. Approximately 36,548 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 489,015 shares. The stock had previously closed at $12.62.

Analysts Set New Price Targets

Separately, Truist Financial upped their target price on Treace Medical Concepts from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.58.

Treace Medical Concepts Stock Down 5.9 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 4.40. The stock has a market capitalization of $733.71 million, a PE ratio of -14.65 and a beta of 0.27. The business has a 50 day moving average of $13.38 and a two-hundred day moving average of $11.79.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The company had revenue of $62.20 million for the quarter, compared to analysts' expectations of $60.56 million. Treace Medical Concepts had a negative return on equity of 33.96% and a negative net margin of 26.47%. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Analysts predict that Treace Medical Concepts, Inc. will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in Treace Medical Concepts during the 4th quarter valued at about $25,000. UBS Group AG increased its holdings in shares of Treace Medical Concepts by 79.1% in the third quarter. UBS Group AG now owns 1,442 shares of the company's stock valued at $32,000 after purchasing an additional 637 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Treace Medical Concepts by 72.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,785 shares of the company's stock valued at $46,000 after purchasing an additional 752 shares during the period. TD Capital Management LLC acquired a new position in shares of Treace Medical Concepts in the fourth quarter valued at about $57,000. Finally, CWM LLC increased its holdings in shares of Treace Medical Concepts by 1,701.7% in the third quarter. CWM LLC now owns 3,225 shares of the company's stock valued at $42,000 after purchasing an additional 3,046 shares during the period. 84.08% of the stock is 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.