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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $10.14.

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price target on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a research report on Thursday, March 13th. Lake Street Capital began coverage on Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price for the company. 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. Finally, 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 note on Tuesday, February 4th.

Treace Medical Concepts Stock Up 2.1 %

TMCI opened at $8.32 on Friday. The company has a 50 day moving average of $9.18 and a 200 day moving average of $7.65. The company has a current ratio of 4.12, a quick ratio of 2.98 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 $12.74. The company has a market cap of $520.99 million, a PE ratio of -8.40 and a beta of 0.77.

Insider Activity

In related news, insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.43% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently modified their holdings of the company. Alpha Wealth Funds LLC purchased a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $96,000. PharVision Advisers LLC bought a new stake in Treace Medical Concepts in the fourth quarter worth $143,000. Two Sigma Advisers LP boosted its position in Treace Medical Concepts by 45.2% during the fourth quarter. Two Sigma Advisers LP now owns 47,900 shares of the company’s stock valued at $356,000 after buying an additional 14,900 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Treace Medical Concepts during the fourth quarter valued at about $1,414,000. Finally, ProShare Advisors LLC bought a new position in shares of Treace Medical Concepts during the fourth quarter valued at about $102,000. 84.08% of the stock is currently owned by 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.