Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $10.14 Consensus Target Price from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.14.

A number of equities research analysts have issued reports on TMCI shares. Lake Street Capital began coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, February 4th. Finally, Truist Financial cut their price target on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a report on Thursday, March 13th.

Treace Medical Concepts Stock Up 2.1 %

Shares of Treace Medical Concepts stock opened at $8.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $12.74. The company’s 50 day moving average price is $9.18 and its 200-day moving average price is $7.65. The stock has a market capitalization of $520.99 million, a price-to-earnings ratio of -8.40 and a beta of 0.77.

Insider Buying and Selling

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now owns 364,081 shares of the company’s stock, valued at approximately $2,901,725.57. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.43% of the stock is owned by insiders.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in TMCI. Alpha Wealth Funds LLC purchased a new position in Treace Medical Concepts during the fourth quarter valued at $96,000. PharVision Advisers LLC bought a new position in shares of Treace Medical Concepts during the fourth quarter valued at $143,000. Two Sigma Advisers LP raised its position in shares of Treace Medical Concepts by 45.2% in the 4th quarter. Two Sigma Advisers LP now owns 47,900 shares of the company’s stock worth $356,000 after purchasing an additional 14,900 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Treace Medical Concepts in the 4th quarter worth about $1,414,000. Finally, ProShare Advisors LLC purchased a new stake in Treace Medical Concepts during the 4th quarter valued at about $102,000. Hedge funds and other institutional investors 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.