Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $10.16 Consensus PT from Analysts

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are covering the firm, Marketbeat reports. Five 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 issued a report on the stock in the last year is $10.16.

TMCI has been the subject of several research reports. UBS Group reduced their price objective on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a report 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 report on Friday, April 11th.

Treace Medical Concepts Stock Performance

Shares of TMCI stock traded down $0.01 during midday trading on Monday, hitting $6.21. The company had a trading volume of 202,997 shares, compared to its average volume of 514,379. The company's 50 day simple moving average is $6.18 and its 200 day simple moving average is $7.59. Treace Medical Concepts has a 52-week low of $4.54 and a 52-week high of $10.79. The stock has a market cap of $390.55 million, a price-to-earnings ratio of -7.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.50 and a quick ratio of 3.36.

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

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Treace Medical Concepts by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 249,169 shares of the company's stock worth $1,540,000 after acquiring an additional 4,369 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Treace Medical Concepts by 5.8% in the first quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock worth $587,000 after acquiring an additional 3,843 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Treace Medical Concepts by 66.9% in the first quarter. Acadian Asset Management LLC now owns 126,457 shares of the company's stock worth $1,060,000 after acquiring an additional 50,669 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Treace Medical Concepts in the first quarter worth $5,987,000. Finally, Millennium Management LLC grew its position in shares of Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company's stock valued at $3,733,000 after purchasing an additional 116,114 shares during the period. 84.08% of the stock is owned by institutional investors and hedge funds.

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.