Brokerages Set Treace Medical Concepts, Inc. (NASDAQ:TMCI) PT at $9.99

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) has received an average recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.99.

Several research analysts recently issued reports on TMCI shares. BTIG Research upgraded shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a research report on Tuesday, February 4th. Lake Street Capital started coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They set a "buy" rating and a $14.50 price target on the stock. Stifel Nicolaus upped their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Truist Financial upped their target price on shares of Treace Medical Concepts from $7.00 to $8.40 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th.

Treace Medical Concepts Stock Performance

NASDAQ TMCI remained flat at $10.25 on Friday. 205,546 shares of the company traded hands, compared to its average volume of 429,316. The firm's fifty day simple moving average is $8.30 and its 200 day simple moving average is $6.92. The company has a market cap of $638.58 million, a P/E ratio of -10.36 and a beta of 0.75. 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 1-year low of $3.92 and a 1-year high of $15.98.

Institutional Trading of Treace Medical Concepts

A number of hedge funds have recently modified their holdings of TMCI. Quarry LP acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $38,000. HighTower Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of 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 acquiring an additional 7,522 shares during the period. Walleye Capital LLC acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $75,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $75,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.