Treace Medical Concepts (NASDAQ:TMCI) Given Neutral Rating at UBS Group

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 restated by equities research analysts at UBS Group in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $6.50 price objective on the stock, down from their prior price objective of $8.60. UBS Group's price objective would suggest a potential downside of 0.46% from the stock's previous close.

A number of other equities research analysts also recently weighed in on TMCI. Stifel Nicolaus dropped their price target on shares of Treace Medical Concepts from $9.00 to $6.00 and set a "hold" rating for the company in a research report on Friday. Truist Financial decreased their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.83.

Treace Medical Concepts Stock Performance

TMCI stock traded up $0.14 during mid-day trading on Friday, hitting $6.53. 558,765 shares of the company were exchanged, compared to its average volume of 396,471. The business has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $7.24. The company has a current ratio of 4.50, a quick ratio of 3.36 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $412.50 million, a PE ratio of -8.27 and a beta of 0.68. Treace Medical Concepts has a 1-year low of $4.54 and a 1-year high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 45.66%. The company had revenue of $47.39 million during the quarter, compared to the consensus estimate of $47.08 million. On average, equities analysts forecast that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Trading of Treace Medical Concepts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of 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 worth $2,054,000 after buying an additional 2,645 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Treace Medical Concepts by 5.8% during the first quarter. Rhumbline Advisers now owns 69,916 shares of the company's stock worth $587,000 after buying an additional 3,843 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Treace Medical Concepts during the first quarter worth $2,116,000. Norges Bank bought a new stake in shares of Treace Medical Concepts during the fourth quarter worth $490,000. Finally, Nuveen Asset Management LLC grew its stake in shares of 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 during 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.