Stifel Nicolaus Issues Pessimistic Forecast for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Key Points

• Stifel Nicolaus has reduced its price target for Treace Medical Concepts (TMCI) from $9.00 to $6.00, which suggests a potential downside of 2.94% from the stock's previous close.
• Treace Medical Concepts reported a quarterly earnings per share of ($0.28), beating the consensus estimate while recording revenue of $47.39 million, exceeding expectations.
• Currently, Treace Medical Concepts has a consensus rating of "Hold", with four analysts holding this view and two analysts issuing buy ratings.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) had its price objective decreased by equities researchers at Stifel Nicolaus from $9.00 to $6.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential downside of 2.94% from the company's previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group decreased their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a research note on Friday, May 9th. Truist Financial reduced their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Treace Medical Concepts presently has a consensus rating of "Hold" and an average price target of $10.18.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI traded up $0.50 during mid-day trading on Friday, reaching $6.18. 389,650 shares of the stock were exchanged, compared to its average volume of 390,957. The stock has a market capitalization of $388.79 million, a P/E ratio of -7.29 and a beta of 0.68. Treace Medical Concepts has a 1 year low of $4.54 and a 1 year high of $10.79. The company has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $7.32. The company has a quick ratio of 3.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. The business had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative return on equity of 48.69% and a negative net margin of 25.14%. Analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Treace Medical Concepts by 1.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 244,800 shares of the company's stock valued at $2,054,000 after purchasing an additional 2,645 shares during the period. Rhumbline Advisers increased its holdings in Treace Medical Concepts by 5.8% in the first quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock valued at $587,000 after buying an additional 3,843 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Treace Medical Concepts during the 1st quarter valued at approximately $2,116,000. Norges Bank purchased a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $490,000. Finally, Nuveen Asset Management LLC raised its holdings in Treace Medical Concepts by 11.4% during the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company's stock worth $3,518,000 after purchasing an additional 48,525 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

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.

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