Treace Medical Concepts (NASDAQ:TMCI) Price Target Cut to $9.50 by Analysts at Truist Financial

Treace Medical Concepts (NASDAQ:TMCI) had its price target decreased by research analysts at Truist Financial from $10.00 to $9.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 19.50% from the stock’s current price.

Other equities analysts have also issued research reports about 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 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. Finally, Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Treace Medical Concepts has a consensus rating of “Hold” and a consensus price target of $10.14.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI opened at $7.95 on Thursday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $13.24. 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 firm has a market capitalization of $497.82 million, a price-to-earnings ratio of -8.03 and a beta of 0.77. The firm’s fifty day simple moving average is $9.16 and its 200 day simple moving average is $7.39.

Institutional Trading of Treace Medical Concepts

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Treace Medical Concepts during the third quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. increased its stake 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 during the period. Quantbot Technologies LP acquired a new position in Treace Medical Concepts in the 4th quarter valued at approximately $69,000. Finally, Wolverine Trading LLC increased its stake 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 during the period. 84.08% of the stock is owned by institutional investors and hedge funds.

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.