UBS Group Reaffirms Neutral Rating for Treace Medical Concepts (NASDAQ:TMCI)

Key Points

• UBS Group has lowered its price target for Treace Medical Concepts (NASDAQ: TMCI) from $8.60 to $6.50, while maintaining a "neutral" rating, indicating a potential 4.17% upside from the previous close.
• Other analysts have also adjusted their targets, with Stifel Nicolaus setting a new price objective at $6.00 and Truist Financial lowering theirs to $8.00, reflecting a consensus rating of "Hold" across six analysts.
• Treace Medical Concepts reported a quarterly EPS of ($0.28), beating expectations, along with revenues of $47.39 million, although the company has a negative return on equity of 48.69% and a net margin of -25.14%.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at UBS Group in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $6.50 target price on the stock, down from their prior target price of $8.60. UBS Group's price objective suggests a potential downside of 5.80% from the stock's current price.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a report on Friday, August 8th. Truist Financial cut their price objective 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.83.

Treace Medical Concepts Stock Performance

NASDAQ TMCI opened at $6.90 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.52 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $435.89 million, a P/E ratio of -8.73 and a beta of 0.68. Treace Medical Concepts has a 12-month low of $4.54 and a 12-month high of $10.79. The firm has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $7.24.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. Analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in Treace Medical Concepts by 256.2% in the second quarter. Marshall Wace LLP now owns 135,877 shares of the company's stock valued at $799,000 after acquiring an additional 97,729 shares during the last quarter. Invesco Ltd. increased its stake in Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock valued at $88,000 after acquiring an additional 2,362 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Treace Medical Concepts by 133,241.9% in the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company's stock valued at $243,000 after acquiring an additional 41,305 shares during the last quarter. CenterBook Partners LP bought a new position in Treace Medical Concepts in the second quarter valued at approximately $3,309,000. Finally, Geode Capital Management LLC increased its position in Treace Medical Concepts by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,119,581 shares of the company's stock worth $6,584,000 after purchasing an additional 32,438 shares in the last quarter. 84.08% of the stock is owned by institutional investors.

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.