Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $10.00

Treace Medical Concepts (NASDAQ:TMCI) had its price objective increased by Truist Financial from $8.40 to $10.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

TMCI has been the subject of several other reports. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Lake Street Capital initiated coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. Finally, Stifel Nicolaus increased their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Treace Medical Concepts currently has a consensus rating of “Hold” and a consensus price target of $10.21.

Treace Medical Concepts Trading Up 3.3 %

Shares of TMCI stock opened at $9.13 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The company has a market cap of $568.77 million, a price-to-earnings ratio of -9.22 and a beta of 0.75. The stock has a 50 day simple moving average of $9.03 and a 200-day simple moving average of $7.30. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $13.80.

Institutional Trading of Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in TMCI. Quarry LP purchased a new stake in Treace Medical Concepts in the 3rd quarter valued at $38,000. HighTower Advisors LLC purchased a new stake in Treace Medical Concepts in the 3rd quarter valued at $58,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Treace Medical Concepts by 243.4% in 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 in the last quarter. Quantbot Technologies LP purchased a new stake in Treace Medical Concepts in the 4th quarter valued at $69,000. Finally, Wolverine Trading LLC grew its holdings in Treace Medical Concepts by 17.7% in the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after buying an additional 1,946 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other 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.