Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $8.00

Key Points

• Truist Financial raised the price target for Treace Medical Concepts (NASDAQ:TMCI) from $6.60 to $8.00, indicating a potential upside of 10.34% from the stock's current price.
• Several analysts have provided mixed ratings, with Stifel Nicolaus lowering their target price to $6.00 while UBS Group restated a "neutral" rating with a target of $6.50.
• Treace Medical Concepts reported earnings per share of (-$0.28), beating analyst estimates, and had revenues of $47.39 million for the last quarter.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) had its price objective lifted by equities research analysts at Truist Financial from $6.60 to $8.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 8.40% from the company's current price.

TMCI has been the subject of a number of other reports. UBS Group reiterated a "neutral" rating and set a $6.50 price target (down from $8.60) on shares of Treace Medical Concepts in a report on Friday, August 8th. Stifel Nicolaus reduced their price target on Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $9.83.

Treace Medical Concepts Stock Up 3.8%

Shares of TMCI stock traded up $0.27 during trading hours on Thursday, reaching $7.38. 327,785 shares of the company's stock were exchanged, compared to its average volume of 392,346. Treace Medical Concepts has a 1 year low of $4.54 and a 1 year high of $10.79. The stock has a market cap of $466.19 million, a PE ratio of -9.34 and a beta of 0.71. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The stock's fifty day moving average price is $6.39 and its two-hundred day moving average price is $6.85.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. The company had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%. Treace Medical Concepts has set its FY 2025 guidance at EPS. Research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently modified their holdings of TMCI. Parkman Healthcare Partners LLC acquired a new stake in Treace Medical Concepts during the first quarter valued at approximately $5,987,000. CenterBook Partners LP bought a new position in Treace Medical Concepts in the 2nd quarter worth approximately $3,309,000. Gagnon Securities LLC increased its position in shares of Treace Medical Concepts by 28.8% during the 2nd quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company's stock valued at $13,231,000 after purchasing an additional 503,612 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Treace Medical Concepts during the 1st quarter valued at $3,929,000. Finally, First Eagle Investment Management LLC increased its position in shares of Treace Medical Concepts by 82.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company's stock valued at $5,339,000 after purchasing an additional 409,105 shares during the period. Hedge funds and other 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.