Treace Medical Concepts (NASDAQ:TMCI) Receives “Underweight” Rating from JPMorgan Chase & Co.

Treace Medical Concepts (NASDAQ:TMCI)‘s stock had its “underweight” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $5.00 target price on the stock, down from their previous target price of $8.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 44.80% from the stock’s previous close.

A number of other brokerages have also issued reports on TMCI. Truist Financial decreased their price target on Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Stifel Nicolaus lowered their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $6.50 price objective (down from $8.60) on shares of Treace Medical Concepts in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Reduce” and an average target price of $9.17.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI traded down $2.78 on Friday, hitting $3.45. The company’s stock had a trading volume of 1,361,796 shares, compared to its average volume of 373,646. The stock has a 50 day moving average of $6.71 and a 200-day moving average of $6.43. The company has a market capitalization of $218.13 million, a price-to-earnings ratio of -4.37 and a beta of 0.68. Treace Medical Concepts has a 12-month low of $3.40 and a 12-month high of $10.79. 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 posted 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 net margin of 23.01% and a negative return on equity of 46.76%. The company had revenue of $33.06 million during the quarter. As a group, research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors have recently modified their holdings of the stock. Armistice Capital LLC grew its stake in Treace Medical Concepts by 0.8% in the second quarter. Armistice Capital LLC now owns 6,260,000 shares of the company’s stock worth $36,809,000 after purchasing an additional 49,000 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 1.3% in the 2nd quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock valued at $18,227,000 after acquiring an additional 39,283 shares during the last quarter. Gagnon Securities LLC raised its position in shares of Treace Medical Concepts by 0.4% during the 3rd quarter. Gagnon Securities LLC now owns 2,258,238 shares of the company’s stock valued at $15,153,000 after acquiring an additional 8,090 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Treace Medical Concepts by 3.0% in the second quarter. Geode Capital Management LLC now owns 1,119,581 shares of the company’s stock worth $6,584,000 after purchasing an additional 32,438 shares during the period. Finally, Gagnon Advisors LLC increased its stake in Treace Medical Concepts by 16.6% during the third quarter. Gagnon Advisors LLC now owns 968,464 shares of the company’s stock valued at $6,498,000 after purchasing an additional 138,194 shares during the last quarter. Institutional investors and hedge funds 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.