Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) Price Target at $10.16

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have been given a consensus rating of "Hold" by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.16.

A number of research analysts have issued reports on TMCI shares. Truist Financial decreased their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group decreased their target price 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 3.4%

NASDAQ TMCI traded down $0.20 on Thursday, reaching $5.67. The company had a trading volume of 393,337 shares, compared to its average volume of 551,753. The stock's 50 day moving average is $6.54 and its 200-day moving average is $7.84. The stock has a market cap of $356.59 million, a price-to-earnings ratio of -5.73 and a beta of 0.68. The company has a quick ratio of 2.98, a current ratio of 4.12 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.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released 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 business had revenue of $52.57 million during the quarter, compared to the consensus estimate of $52.07 million. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Equities analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Insider Activity at Treace Medical Concepts

In related news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now directly owns 364,081 shares of the company's stock, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 27.72% of the company's stock.

Institutional Trading of Treace Medical Concepts

Several institutional investors and hedge funds have recently bought and sold shares of TMCI. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Treace Medical Concepts during the fourth quarter worth approximately $342,000. Norges Bank acquired a new stake in Treace Medical Concepts during the fourth quarter worth approximately $490,000. Nuveen Asset Management LLC grew its position in Treace Medical Concepts by 11.4% during 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 in the last quarter. Rhumbline Advisers grew its position in Treace Medical Concepts by 2.0% during the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company's stock worth $492,000 after buying an additional 1,300 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Treace Medical Concepts by 25.9% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,200 shares of the company's stock worth $2,040,000 after buying an additional 56,445 shares in the last quarter. 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.