Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Recommendation of "Hold" by Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has received a consensus recommendation of "Hold" from the seven brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $10.16.

A number of analysts have recently issued reports on TMCI shares. Truist Financial reduced 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 cut their price target 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.

Treace Medical Concepts Trading Down 0.6%

Shares of NASDAQ:TMCI opened at $6.05 on Monday. The company has a 50 day moving average of $6.25 and a 200-day moving average of $7.62. The firm has a market cap of $380.55 million, a P/E ratio of -7.12 and a beta of 0.69. Treace Medical Concepts has a twelve month low of $4.54 and a twelve month high of $10.79. 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 (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative net margin of 25.14% and a negative return on equity of 48.69%. The company had revenue of $52.57 million during the quarter, compared to the consensus estimate of $52.07 million. During the same period in the prior year, the company earned ($0.30) EPS. Treace Medical Concepts's revenue was up 2.9% on a year-over-year basis. As a group, analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in Treace Medical Concepts by 1.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 244,800 shares of the company's stock valued at $2,054,000 after acquiring an additional 2,645 shares during the period. Rhumbline Advisers grew its stake in shares of Treace Medical Concepts by 5.8% in the 1st quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock valued at $587,000 after purchasing an additional 3,843 shares during the period. Lisanti Capital Growth LLC bought a new stake in shares of Treace Medical Concepts in the 1st quarter valued at approximately $2,116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Treace Medical Concepts in the fourth quarter valued at $342,000. Finally, Norges Bank bought a new stake in Treace Medical Concepts in the fourth quarter valued at $490,000. Institutional investors own 84.08% of the company's stock.

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.

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