Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) PT at $12.21

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.21.

Several brokerages recently issued reports on TMCI. JPMorgan Chase & Co. cut shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $8.00 in a research note on Wednesday, May 8th. UBS Group lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $6.50 in a research note on Thursday, May 16th. Truist Financial lowered Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $7.00 in a research report on Wednesday, May 8th. Stifel Nicolaus downgraded Treace Medical Concepts from a “buy” rating to a “hold” rating and cut their price objective for the company from $15.00 to $6.00 in a report on Wednesday, May 8th. Finally, Morgan Stanley lowered shares of Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $15.00 to $5.50 in a research note on Wednesday, May 8th.

Insider Buying and Selling

In other Treace Medical Concepts news, Director Deepti Jain bought 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $4.50 per share, with a total value of $112,500.00. Following the transaction, the director now owns 31,235 shares of the company’s stock, valued at $140,557.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Treace Medical Concepts news, CEO John T. Treace purchased 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $5.88 per share, for a total transaction of $264,600.00. Following the purchase, the chief executive officer now directly owns 6,388,095 shares in the company, valued at $37,561,998.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deepti Jain acquired 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $4.50 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now owns 31,235 shares of the company’s stock, valued at approximately $140,557.50. The disclosure for this purchase can be found here. Insiders bought 593,902 shares of company stock worth $2,930,422 over the last 90 days. 24.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Treace Medical Concepts by 3,441.2% in the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after purchasing an additional 4,508 shares during the period. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Treace Medical Concepts by 160.7% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 55,279 shares of the company’s stock valued at $721,000 after buying an additional 34,075 shares during the period. AWM Investment Company Inc. acquired a new stake in Treace Medical Concepts in the first quarter valued at $718,000. RiverPark Advisors LLC boosted its holdings in Treace Medical Concepts by 763.9% during the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after buying an additional 7,952 shares in the last quarter. Finally, Oak Ridge Investments LLC lifted its position in shares of Treace Medical Concepts by 11.4% during the 1st quarter. Oak Ridge Investments LLC now owns 126,221 shares of the company’s stock valued at $1,647,000 after acquiring an additional 12,914 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 0.3 %

Shares of Treace Medical Concepts stock opened at $6.61 on Thursday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $25.22. The firm’s 50-day moving average price is $6.67 and its 200 day moving average price is $10.72. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $409.87 million, a PE ratio of -7.51 and a beta of 0.22.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The business had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. During the same quarter last year, the business posted ($0.23) earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts predict that Treace Medical Concepts will post -0.89 EPS 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.