JPMorgan Chase & Co. Reiterates Neutral Rating for Treace Medical Concepts (NASDAQ:TMCI)

JPMorgan Chase & Co. restated their neutral rating on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research report report published on Tuesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has a $8.00 target price on the stock.

A number of other brokerages have also weighed in on TMCI. Truist Financial cut their price objective on 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. Stifel Nicolaus lifted their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.88.

Treace Medical Concepts Trading Down 0.6 %

NASDAQ:TMCI opened at $6.90 on Tuesday. The firm has a market capitalization of $429.85 million, a P/E ratio of -6.97 and a beta of 0.66. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $6.91 and a 200 day moving average of $6.47. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm 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 30.33% and a negative return on equity of 51.12%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.28) earnings per share. On average, research analysts predict that Treace Medical Concepts will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TMCI. Armistice Capital LLC grew its stake in Treace Medical Concepts by 123.3% in the second quarter. Armistice Capital LLC now owns 5,360,000 shares of the company’s stock worth $35,644,000 after purchasing an additional 2,960,000 shares during the period. William Blair Investment Management LLC grew its position in shares of Treace Medical Concepts by 58.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,681,718 shares of the company’s stock worth $24,483,000 after buying an additional 1,352,207 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter worth about $2,412,000. Acadian Asset Management LLC bought a new position in shares of Treace Medical Concepts in the 2nd quarter worth about $2,247,000. Finally, Marshall Wace LLP lifted its position in Treace Medical Concepts by 65.9% during the 2nd quarter. Marshall Wace LLP now owns 463,039 shares of the company’s stock valued at $3,079,000 after acquiring an additional 183,921 shares during the period. 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.