Stifel Nicolaus Lowers Treace Medical Concepts (NASDAQ:TMCI) Price Target to $6.00

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 - Free Report) had its price objective decreased by Stifel Nicolaus from $9.00 to $6.00 in a report issued on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

TMCI has been the subject of a number of other reports. Truist Financial decreased their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a report on Friday, April 11th. UBS Group decreased their price objective on 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.83.

Treace Medical Concepts Trading Up 3.8%

Shares of TMCI traded up $0.25 during midday trading on Friday, hitting $6.64. 80,773 shares of the stock were exchanged, compared to its average volume of 393,326. Treace Medical Concepts has a 52-week low of $4.54 and a 52-week high of $10.79. The stock has a fifty day simple moving average of $5.82 and a 200 day simple moving average of $7.24. The firm has a market cap of $419.20 million, a P/E ratio of -8.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. Treace Medical Concepts had a negative return on equity of 45.66% and a negative net margin of 23.01%. The business had revenue of $47.39 million during the quarter, compared to analyst estimates of $47.08 million. On average, research analysts anticipate that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Treace Medical Concepts by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 244,800 shares of the company's stock worth $2,054,000 after buying an additional 2,645 shares during the last quarter. Rhumbline Advisers lifted its holdings in Treace Medical Concepts by 5.8% during the 1st quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock worth $587,000 after buying an additional 3,843 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Treace Medical Concepts during the 1st quarter worth about $2,116,000. Norges Bank purchased a new stake in Treace Medical Concepts during the 4th quarter worth about $490,000. Finally, Nuveen Asset Management LLC lifted its holdings in Treace Medical Concepts by 11.4% during the 4th quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company's stock worth $3,518,000 after buying 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.