Treace Medical Concepts (NASDAQ:TMCI) Stock Rating Upgraded by BTIG Research

BTIG Research upgraded shares of Treace Medical Concepts (NASDAQ:TMCI) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has $16.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial upped their price objective on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Stifel Nicolaus lifted their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.99.

Treace Medical Concepts Trading Up 8.5 %

Shares of NASDAQ:TMCI opened at $10.51 on Tuesday. The company’s 50-day moving average price is $8.19 and its two-hundred day moving average price is $6.87. Treace Medical Concepts has a one year low of $3.92 and a one year high of $15.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The stock has a market capitalization of $654.74 million, a PE ratio of -10.62 and a beta of 0.75.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TMCI. Squarepoint Ops LLC lifted its position in Treace Medical Concepts by 300.6% during the second quarter. Squarepoint Ops LLC now owns 118,047 shares of the company’s stock worth $785,000 after acquiring an additional 88,577 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Treace Medical Concepts by 11.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock worth $135,000 after purchasing an additional 2,160 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Treace Medical Concepts during the 2nd quarter worth approximately $135,000. SG Americas Securities LLC bought a new stake in Treace Medical Concepts in the 3rd quarter valued at $137,000. Finally, Ballentine Partners LLC acquired a new position in Treace Medical Concepts in the 3rd quarter valued at $132,000. 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.