Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Rating of “Hold” by Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.21.

A number of equities analysts recently weighed in on TMCI shares. Truist Financial upped their target price on shares of Treace Medical Concepts from $8.40 to $10.00 and gave the stock a “hold” rating in a research note on Monday. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective for the company. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Stifel Nicolaus increased 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th.

Treace Medical Concepts Price Performance

TMCI opened at $8.76 on Tuesday. The stock has a market cap of $545.72 million, a P/E ratio of -8.85 and a beta of 0.75. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $13.80. The company has a fifty day simple moving average of $8.95 and a 200 day simple moving average of $7.27.

Institutional Trading of Treace Medical Concepts

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Treace Medical Concepts by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after acquiring an additional 1,216 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Treace Medical Concepts by 2.0% during the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after purchasing an additional 1,300 shares during the period. Wolverine Trading LLC lifted its holdings in shares of Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after purchasing an additional 1,946 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Treace Medical Concepts by 2.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after purchasing an additional 2,150 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of Treace Medical Concepts by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock worth $186,000 after purchasing an additional 2,314 shares during the period. Institutional investors and hedge funds 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.