Treace Medical Concepts (NASDAQ:TMCI) Receives Neutral Rating from BTIG Research

BTIG Research restated their neutral rating on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research note published on Friday morning, Marketbeat Ratings reports.

Several other research firms also recently weighed in on TMCI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and set a $6.50 target price (down from $8.60) on shares of Treace Medical Concepts in a report on Friday, August 8th. Truist Financial dropped their price target on shares of 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. Stifel Nicolaus cut their price objective on Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a report on Friday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Treace Medical Concepts currently has an average rating of “Reduce” and a consensus target price of $9.06.

Treace Medical Concepts Trading Down 28.3%

NASDAQ TMCI traded down $1.76 during trading hours on Friday, reaching $4.47. The company had a trading volume of 6,677,718 shares, compared to its average volume of 247,231. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $282.38 million, a P/E ratio of -5.59 and a beta of 0.68. The stock has a 50-day moving average of $6.65 and a 200 day moving average of $6.41. Treace Medical Concepts has a 1-year low of $3.40 and a 1-year high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly 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 22.89% and a negative return on equity of 47.60%. The company had revenue of $33.06 million during the quarter. As a group, research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in TMCI. Parkman Healthcare Partners LLC purchased a new stake in Treace Medical Concepts during the first quarter worth approximately $5,987,000. CenterBook Partners LP acquired a new stake in Treace Medical Concepts during the second quarter worth approximately $3,309,000. Gagnon Securities LLC lifted its position in shares of Treace Medical Concepts by 28.8% during the 2nd quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company’s stock worth $13,231,000 after buying an additional 503,612 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Treace Medical Concepts in the 1st quarter valued at $3,929,000. Finally, First Eagle Investment Management LLC raised its stake in Treace Medical Concepts by 82.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock worth $5,339,000 after acquiring an additional 409,105 shares in 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.