Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Treace Medical Concepts, Inc. (TMCI) has received a consensus rating of "Hold" from analysts, with an average 12-month target price of $9.83.
• Several hedge funds have recently acquired or increased their positions in TMCI, indicating strong institutional interest, as 84.08% of the stock is held by institutional investors.
• Despite recent earnings that surpassed estimates, TMCI's stock price has decreased by 4.2%, with current trading at $6.89, following analysts' varied price target adjustments.

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have received an average rating of "Hold" from the six research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.8333.

TMCI has been the subject of several analyst reports. Truist Financial increased their price objective on shares of Treace Medical Concepts from $6.60 to $8.00 and gave the company a "hold" rating in a research note on Thursday, September 4th. UBS Group reaffirmed a "neutral" rating and set a $6.50 price target (down from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Finally, Stifel Nicolaus dropped their price target on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, August 8th.

Treace Medical Concepts Stock Up 0.6%

TMCI traded up $0.04 during midday trading on Friday, reaching $6.94. 26,034 shares of the company were exchanged, compared to its average volume of 389,097. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.51 and a current ratio of 3.52. The company's fifty day moving average price is $6.60 and its 200 day moving average price is $6.71. Treace Medical Concepts has a one year low of $4.54 and a one year high of $10.79. The company has a market cap of $438.40 million, a price-to-earnings ratio of -8.80 and a beta of 0.71.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. The firm had revenue of $47.39 million during the quarter, compared to analyst estimates of $47.08 million. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. Treace Medical Concepts has set its FY 2025 guidance at EPS. As a group, analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Trading of Treace Medical Concepts

Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Treace Medical Concepts by 2.3% in the fourth quarter. Northern Trust Corp now owns 468,894 shares of the company's stock valued at $3,489,000 after acquiring an additional 10,711 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth approximately $590,000. Bank of America Corp DE lifted its stake in Treace Medical Concepts by 71.1% in the fourth quarter. Bank of America Corp DE now owns 144,068 shares of the company's stock valued at $1,072,000 after purchasing an additional 59,848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Treace Medical Concepts by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company's stock valued at $208,000 after purchasing an additional 1,216 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Treace Medical Concepts by 11.4% in the fourth 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. Hedge funds and other institutional investors own 84.08% of the company's stock.

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.