Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of “Hold” from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.6667.

TMCI has been the topic of a number of analyst reports. UBS Group restated a “neutral” rating and set a $6.50 target price (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Stifel Nicolaus decreased their target price on shares of 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. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Finally, Truist Financial decreased their target price on shares of Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th.

Treace Medical Concepts Trading Up 2.2%

Shares of TMCI opened at $6.95 on Wednesday. Treace Medical Concepts has a 1-year low of $4.54 and a 1-year high of $10.79. The firm has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $6.46. The stock has a market cap of $439.03 million, a price-to-earnings ratio of -8.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.52 and a quick ratio of 2.51.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, January 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. Treace Medical Concepts had a negative return on equity of 46.76% and a negative net margin of 23.01%.The firm had revenue of $33.06 million for the quarter. Equities analysts forecast that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently made changes to their positions in TMCI. Farther Finance Advisors LLC acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $28,000. Osaic Holdings Inc. boosted its holdings in shares of Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after purchasing an additional 3,674 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $62,000. CWM LLC boosted its holdings in shares of Treace Medical Concepts by 126.0% in the 1st quarter. CWM LLC now owns 8,706 shares of the company’s stock valued at $73,000 after purchasing an additional 4,853 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company’s stock valued at $87,000 after purchasing an additional 10,236 shares during the last quarter. Institutional investors and hedge funds 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.