Treace Medical Concepts (NASDAQ:TMCI) Given Underweight Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Treace Medical Concepts (NASDAQ:TMCI) in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $5.00 price target on the stock, down from their previous price target of $8.00.

A number of other brokerages also recently issued reports on TMCI. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Truist Financial cut their price target on Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. UBS Group restated a “neutral” rating and issued a $6.50 price target (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Finally, Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.06.

Treace Medical Concepts Stock Performance

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

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, January 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $33.06 million during the quarter. Treace Medical Concepts had a negative return on equity of 47.60% and a negative net margin of 22.89%. On average, equities research analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

A number of institutional investors and hedge funds have recently bought and sold shares of TMCI. Nuveen LLC bought a new position in shares of Treace Medical Concepts during the 1st quarter valued at about $2,120,000. Arcadia Wealth Management Inc. bought a new stake in shares of Treace Medical Concepts in the first quarter worth about $1,762,000. Acadian Asset Management LLC lifted its position in shares of Treace Medical Concepts by 66.9% in the first quarter. Acadian Asset Management LLC now owns 126,457 shares of the company’s stock worth $1,060,000 after buying an additional 50,669 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Treace Medical Concepts in the first quarter worth about $5,987,000. Finally, Driehaus Capital Management LLC bought a new position in Treace Medical Concepts during the first quarter valued at approximately $3,929,000. 84.08% of the stock is currently owned by institutional investors.

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.