Treace Medical Concepts (NASDAQ:TMCI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Treace Medical Concepts (NASDAQ:TMCI) had its price target increased by Stifel Nicolaus from $7.00 to $8.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

TMCI has been the topic of a number of other research reports. UBS Group lifted their price objective on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley lifted their price target on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Truist Financial cut their price objective on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $7.78 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. The business has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $6.37. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98. The stock has a market capitalization of $483.84 million, a PE ratio of -7.63 and a beta of 0.24.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The company had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. Treace Medical Concepts’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) EPS. Equities analysts predict that Treace Medical Concepts will post -0.93 earnings per share for the current year.

Insider Transactions at Treace Medical Concepts

In other news, Director James T. Treace acquired 84,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $5.96 per share, with a total value of $500,640.00. Following the purchase, the director now directly owns 1,223,441 shares of the company’s stock, valued at approximately $7,291,708.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director James T. Treace bought 84,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the transaction, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John T. Treace purchased 85,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at approximately $38,838,570. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 219,000 shares of company stock valued at $1,276,140 in the last quarter. 24.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMCI. Acadian Asset Management LLC acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $2,247,000. Lighthouse Investment Partners LLC purchased a new stake in Treace Medical Concepts in the 2nd quarter valued at approximately $1,114,000. Point72 Asset Management L.P. acquired a new stake in Treace Medical Concepts during the 2nd quarter valued at $2,412,000. Nisa Investment Advisors LLC increased its position in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Treace Medical Concepts by 3,441.2% in the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after acquiring an additional 4,508 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.