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 assigned an average recommendation of "Hold" from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.16.

A number of equities analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of 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 target price on shares of 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.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 50,000 shares of the company's stock in a transaction 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 sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 27.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Treace Medical Concepts by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company's stock worth $208,000 after purchasing an additional 1,216 shares during the period. Rhumbline Advisers lifted 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 valued at $492,000 after buying an additional 1,300 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Treace Medical Concepts by 2.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company's stock worth $620,000 after buying an additional 2,150 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Treace Medical Concepts by 1.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 244,800 shares of the company's stock worth $2,054,000 after acquiring an additional 2,645 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Treace Medical Concepts by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company's stock valued at $937,000 after acquiring an additional 3,215 shares during the period. Hedge funds and other institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Stock Down 4.9%

NASDAQ:TMCI traded down $0.30 during midday trading on Thursday, hitting $5.87. 323,709 shares of the company were exchanged, compared to its average volume of 552,298. Treace Medical Concepts has a fifty-two week low of $4.54 and a fifty-two week high of $10.79. The company has a market capitalization of $369.16 million, a PE ratio of -5.93 and a beta of 0.68. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $6.60 and a 200 day simple moving average of $7.88.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to analysts' expectations 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 business's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. As a group, equities analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal 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.