Treace Medical Concepts (NASDAQ:TMCI) Price Target Cut to $5.85 by Analysts at UBS Group

Treace Medical Concepts (NASDAQ:TMCI) had its price objective cut by UBS Group from $6.50 to $5.85 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. BTIG Research restated a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday. Truist Financial cut their price target on Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday. Finally, Stifel Nicolaus cut their target price on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $9.06.

Treace Medical Concepts Stock Performance

Shares of TMCI stock traded down $1.76 during trading hours on Friday, reaching $4.47. 6,677,718 shares of the company traded hands, compared to its average volume of 247,231. The firm has a 50-day moving average price of $6.65 and a 200 day moving average price of $6.41. The company has a market cap of $282.38 million, a P/E ratio of -5.59 and a beta of 0.68. 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 has a 12-month low of $3.40 and a 12-month high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, January 9th. The company reported ($0.22) EPS for the quarter. Treace Medical Concepts had a negative return on equity of 47.60% and a negative net margin of 22.89%.The firm had revenue of $33.06 million for the quarter. As a group, sell-side analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its position in Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after purchasing an additional 2,362 shares during the last quarter. Birchview Capital LP grew its position in Treace Medical Concepts by 2.2% in the first quarter. Birchview Capital LP now owns 164,947 shares of the company’s stock worth $1,384,000 after acquiring an additional 3,597 shares in the last quarter. 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 worth $28,000 after purchasing an additional 3,674 shares during the period. Rhumbline Advisers increased its position in Treace Medical Concepts by 5.8% during the first quarter. Rhumbline Advisers now owns 69,916 shares of the company’s stock valued at $587,000 after acquiring an additional 3,843 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Treace Medical Concepts by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 249,169 shares of the company’s stock valued at $1,540,000 after purchasing an additional 4,369 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

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.