Analysts Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) PT at $9.99

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.99.

TMCI has been the subject of a number of research analyst reports. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, February 4th. Truist Financial increased their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus increased 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.

Treace Medical Concepts Stock Up 2.6 %

TMCI opened at $10.08 on Friday. The firm has a 50 day moving average price of $8.44 and a 200 day moving average price of $6.99. The company has a market cap of $627.98 million, a PE ratio of -10.18 and a beta of 0.75. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $15.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Institutional Trading of Treace Medical Concepts

Several large investors have recently bought and sold shares of TMCI. Quarry LP purchased a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Treace Medical Concepts by 243.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after buying an additional 7,522 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Treace Medical Concepts during the 4th quarter valued at approximately $69,000. Finally, Walleye Capital LLC purchased a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds 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.