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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.14.

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

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the transaction, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Treace Medical Concepts

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Treace Medical Concepts by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock valued at $208,000 after purchasing an additional 1,216 shares in the last quarter. Rhumbline Advisers raised its position in shares of Treace Medical Concepts by 2.0% in the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock valued at $492,000 after buying an additional 1,300 shares in the last quarter. Wolverine Trading LLC lifted its holdings in shares of Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after acquiring an additional 1,946 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Treace Medical Concepts by 2.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Treace Medical Concepts by 10.2% in the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock valued at $186,000 after acquiring an additional 2,314 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Up 1.0 %

TMCI opened at $8.45 on Friday. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $9.24 and its 200 day simple moving average is $7.56. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $13.24. The stock has a market cap of $529.13 million, a PE ratio of -8.54 and a beta of 0.77.

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.