UBS Group Has Lowered Expectations for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Treace Medical Concepts (NASDAQ:TMCI) had its price target decreased by investment analysts at UBS Group from $10.00 to $8.60 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 25.92% from the stock’s previous close.

Several other analysts have also weighed in on TMCI. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, February 4th. Truist Financial lowered their target price 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.16.

Treace Medical Concepts Price Performance

TMCI stock opened at $6.83 on Friday. The company has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $7.96. Treace Medical Concepts has a 52 week low of $4.29 and a 52 week high of $10.79. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $429.54 million, a P/E ratio of -6.90 and a beta of 0.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company had revenue of $52.57 million during the quarter, compared to analyst estimates of $52.07 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the sale, the insider now owns 364,081 shares in the company, valued at $2,901,725.57. This trade represents a 12.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in Treace Medical Concepts by 126.0% in the first quarter. CWM LLC now owns 8,706 shares of the company’s stock worth $73,000 after purchasing an additional 4,853 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Treace Medical Concepts during the 4th quarter worth $69,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Treace Medical Concepts during the fourth quarter valued at $77,000. GAMMA Investing LLC raised its holdings in shares of Treace Medical Concepts by 10,236.0% in the first quarter. GAMMA Investing LLC now owns 10,336 shares of the company’s stock valued at $87,000 after acquiring an additional 10,236 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Treace Medical Concepts in the fourth quarter worth about $77,000. 84.08% of the stock is owned by hedge funds and other 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.