Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $10.52 Average PT from Analysts

Key Points

• Treace Medical Concepts, Inc. (TMCI) has an average rating of "Hold" from six analysts, with a consensus price target of $10.52.
• Institutional investors own approximately 84.08% of TMCI, indicating strong backing from major financial entities.
• The company reported a negative earnings per share (EPS) of ($0.25) for the last quarter, surpassing analysts' expectations of ($0.31), with quarterly revenue increasing by 2.9% year-over-year.

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has received a consensus rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.5167.

A number of equities analysts have recently weighed in on TMCI shares. UBS Group dropped their target price on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating on the stock in a report on Friday, May 9th. Truist Financial dropped their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a report on Friday, April 11th.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd grew its holdings in Treace Medical Concepts by 645.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 232,413 shares of the company's stock valued at $1,367,000 after purchasing an additional 201,252 shares during the last quarter. AlphaQuest LLC boosted its holdings in Treace Medical Concepts by 93.9% during the second quarter. AlphaQuest LLC now owns 20,250 shares of the company's stock valued at $119,000 after acquiring an additional 9,804 shares during the period. William Blair Investment Management LLC boosted its holdings in Treace Medical Concepts by 1.3% during the second quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company's stock valued at $18,227,000 after acquiring an additional 39,283 shares during the period. Gagnon Securities LLC boosted its holdings in Treace Medical Concepts by 28.8% during the second quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company's stock valued at $13,231,000 after acquiring an additional 503,612 shares during the period. Finally, Gagnon Advisors LLC boosted its holdings in Treace Medical Concepts by 69.5% during the second quarter. Gagnon Advisors LLC now owns 830,270 shares of the company's stock valued at $4,882,000 after acquiring an additional 340,379 shares during the period. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Trading Up 3.1%

TMCI stock traded up $0.17 during mid-day trading on Friday, reaching $5.51. 61,105 shares of the stock traded hands, compared to its average volume of 390,890. The company has a current ratio of 4.50, a quick ratio of 3.36 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a 52-week low of $4.54 and a 52-week high of $10.79. The company has a market cap of $346.21 million, a P/E ratio of -6.48 and a beta of 0.68. The stock's fifty day moving average is $5.83 and its 200-day moving average is $7.38.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. The company had revenue of $52.57 million during the quarter, compared to analyst estimates of $52.07 million. Treace Medical Concepts had a negative net margin of 25.14% and a negative return on equity of 48.69%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, sell-side analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current year.

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.