Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $8.39 Average Target Price from Analysts

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned an average recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.17.

A number of research analysts have recently commented on TMCI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price target (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. UBS Group decreased their price target on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, BTIG Research restated a “neutral” rating on shares of Treace Medical Concepts in a report on Friday, November 7th.

Treace Medical Concepts Stock Up 2.0%

TMCI stock opened at $2.50 on Monday. The company has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $5.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37. The stock has a market capitalization of $159.30 million, a P/E ratio of -3.13 and a beta of 0.74. Treace Medical Concepts has a one year low of $2.36 and a one year high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Tuesday, January 9th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $33.06 million for the quarter. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%. As a group, sell-side analysts expect that Treace Medical Concepts will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in Treace Medical Concepts by 66.9% during the 1st quarter. Acadian Asset Management LLC now owns 126,457 shares of the company’s stock worth $1,060,000 after purchasing an additional 50,669 shares during the period. CenterBook Partners LP acquired a new position in shares of Treace Medical Concepts during the second quarter worth about $3,309,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Treace Medical Concepts in the first quarter worth about $5,987,000. William Blair Investment Management LLC grew its stake in shares of Treace Medical Concepts by 1.3% in the second quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock valued at $18,227,000 after buying an additional 39,283 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Treace Medical Concepts during the 1st quarter valued at about $3,929,000. 84.08% of the stock is owned by institutional investors and hedge funds.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.