Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Recommendation of "Hold" from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has been assigned a consensus rating of "Hold" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.21.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a "buy" rating and a $14.50 target price on the stock. BTIG Research upgraded shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research note on Tuesday, February 4th. Finally, Truist Financial lifted their price target on Treace Medical Concepts from $8.40 to $10.00 and gave the stock a "hold" rating in a report on Monday.

Treace Medical Concepts Stock Down 1.7 %

NASDAQ TMCI traded down $0.15 during trading on Tuesday, hitting $8.57. The stock had a trading volume of 242,315 shares, compared to its average volume of 729,114. The company has a market capitalization of $536.64 million, a PE ratio of -8.66 and a beta of 0.77. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $13.80. The company's 50-day moving average price is $9.06 and its two-hundred day moving average price is $7.31. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Remove Ads

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company's stock valued at $7,321,000 after buying an additional 861,689 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Treace Medical Concepts by 22.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company's stock valued at $21,865,000 after purchasing an additional 546,787 shares during the period. Point72 Asset Management L.P. bought a new stake in Treace Medical Concepts in the 4th quarter valued at about $1,414,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Treace Medical Concepts during the fourth quarter worth approximately $1,025,000. Finally, Birchview Capital LP raised its position in shares of Treace Medical Concepts by 136.1% in the fourth quarter. Birchview Capital LP now owns 161,350 shares of the company's stock valued at $1,200,000 after buying an additional 93,000 shares in the last quarter. 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.