Treace Medical Concepts (NASDAQ:TMCI) Stock Price Down 4%

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report)’s stock price was down 4% on Monday . The stock traded as low as $12.51 and last traded at $12.53. Approximately 15,934 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 515,709 shares. The stock had previously closed at $13.05.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their target price on shares of Treace Medical Concepts from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Treace Medical Concepts has an average rating of “Moderate Buy” and an average price target of $19.58.

Check Out Our Latest Analysis on Treace Medical Concepts

Treace Medical Concepts Stock Down 4.0 %

The firm has a 50-day simple moving average of $13.54 and a 200 day simple moving average of $11.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.40 and a quick ratio of 3.76.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $62.20 million during the quarter, compared to the consensus estimate of $60.56 million. Treace Medical Concepts had a negative return on equity of 33.96% and a negative net margin of 26.47%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, research analysts anticipate that Treace Medical Concepts, Inc. will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. raised its stake in Treace Medical Concepts by 100.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after buying an additional 3,567 shares during the last quarter. Vanguard Group Inc. lifted its stake in Treace Medical Concepts by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 4,293,789 shares of the company’s stock valued at $54,746,000 after buying an additional 104,207 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Treace Medical Concepts by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,587 shares of the company’s stock worth $148,000 after buying an additional 1,107 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $1,002,000. Finally, Meros Investment Management LP acquired a new position in shares of Treace Medical Concepts during the 4th quarter valued at $1,528,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

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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.

Further Reading

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