Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $8.00 at Stifel Nicolaus

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

Several other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Truist Financial dropped their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Finally, UBS Group upped their price objective on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.40.

Treace Medical Concepts Stock Performance

Shares of TMCI opened at $8.04 on Wednesday. The company’s fifty day moving average is $5.45 and its 200-day moving average is $6.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.93 and a current ratio of 4.12. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm had revenue of $45.09 million during the quarter, compared to analysts’ expectations of $43.48 million. During the same period in the prior year, the company posted ($0.28) earnings per share. Treace Medical Concepts’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John T. Treace bought 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $6.00 per share, with a total value of $510,000.00. Following the completion of the transaction, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John T. Treace acquired 50,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average price of $5.31 per share, with a total value of $265,500.00. Following the completion of the transaction, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John T. Treace bought 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the transaction, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 219,000 shares of company stock valued at $1,276,140. 24.43% of the stock is owned by company insiders.

Institutional Trading of Treace Medical Concepts

A number of hedge funds have recently modified their holdings of TMCI. GAMMA Investing LLC raised its stake 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 valued at $31,000 after purchasing an additional 4,508 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after buying an additional 9,245 shares in the last quarter. CWM LLC lifted its holdings in shares of Treace Medical Concepts by 208.7% during the 2nd quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after acquiring an additional 6,826 shares during the period. Palumbo Wealth Management LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter valued at about $75,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter valued at about $98,000. Institutional investors 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.