Treace Medical Concepts (NASDAQ:TMCI) Price Target Increased to $7.00 by Analysts at UBS Group

Treace Medical Concepts (NASDAQ:TMCI) had its price objective boosted by analysts at UBS Group from $6.50 to $7.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 7.20% from the company’s previous close.

TMCI has been the topic of several other research reports. JPMorgan Chase & Co. downgraded Treace Medical Concepts from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $8.00 in a research note on Wednesday, May 8th. BTIG Research cut Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Morgan Stanley raised their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Stifel Nicolaus cut Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $6.00 in a report on Wednesday, May 8th. Finally, Truist Financial dropped their target price on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.71.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI traded down $0.13 during trading on Wednesday, hitting $6.53. The company had a trading volume of 1,773,350 shares, compared to its average volume of 913,491. The stock has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $9.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $20.77. The firm has a market capitalization of $404.91 million, a P/E ratio of -7.42 and a beta of 0.23.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The company had revenue of $44.46 million during the quarter, compared to the consensus estimate of $43.00 million. During the same period last year, the business earned ($0.20) EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that Treace Medical Concepts will post -0.89 earnings per share for the current year.

Insider Buying and Selling at Treace Medical Concepts

In related news, Director Deepti Jain purchased 25,000 shares of Treace Medical Concepts stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $4.50 per share, with a total value of $112,500.00. Following the transaction, the director now owns 31,235 shares in the company, valued at approximately $140,557.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Treace Medical Concepts news, Director Deepti Jain bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 31,235 shares in the company, valued at $140,557.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Mott bought 36,802 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the purchase, the director now owns 1,027,753 shares in the company, valued at $4,501,558.14. The disclosure for this purchase can be found here. Insiders bought a total of 593,902 shares of company stock valued at $2,930,422 in the last ninety days. Corporate insiders own 24.43% of the company’s stock.

Institutional Trading of Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth about $36,414,000. Norges Bank acquired a new position in Treace Medical Concepts in the 4th quarter worth about $8,725,000. Acadian Asset Management LLC acquired a new position in Treace Medical Concepts in the 2nd quarter worth about $2,247,000. TimesSquare Capital Management LLC raised its holdings in Treace Medical Concepts by 22.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock worth $22,301,000 after purchasing an additional 315,691 shares during the period. Finally, Roubaix Capital LLC acquired a new position in Treace Medical Concepts in the 4th quarter worth about $1,566,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

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.