Analysts Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Target Price at $9.83

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 been given an average recommendation of "Hold" by the six analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.8333.

Several equities research analysts recently weighed in on TMCI shares. UBS Group restated 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. Stifel Nicolaus cut their target price on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Finally, Truist Financial raised their price target on Treace Medical Concepts from $6.60 to $8.00 and gave the stock a "hold" rating in a research note on Thursday, September 4th.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at $28,000. Osaic Holdings Inc. boosted its position in Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company's stock worth $28,000 after purchasing an additional 3,674 shares during the period. CWM LLC raised its stake in shares of Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company's stock valued at $73,000 after purchasing an additional 4,853 shares in the last quarter. GAMMA Investing LLC grew its position in Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company's stock worth $87,000 after purchasing an additional 10,236 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Treace Medical Concepts in the first quarter valued at $88,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

NASDAQ TMCI traded down $0.30 during trading hours on Friday, hitting $6.89. The company had a trading volume of 697,518 shares, compared to its average volume of 299,930. The firm has a market capitalization of $435.24 million, a price-to-earnings ratio of -8.72 and a beta of 0.71. 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 firm has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $6.74. Treace Medical Concepts has a 52 week low of $4.54 and a 52 week high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. The company 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 46.76% and a negative net margin of 23.01%. Treace Medical Concepts has set its FY 2025 guidance at EPS. Equities research analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current year.

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.