Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have received a consensus recommendation of "Hold" from the seven analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $10.14.
Several equities analysts recently weighed in on the stock. Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a "buy" rating and a $14.50 target price for the company. Truist Financial cut their price objective 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Finally, BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a report on Tuesday, February 4th.
View Our Latest Analysis on Treace Medical Concepts
Insider Buying and Selling at Treace Medical Concepts
In related news, insider Sean F. Scanlan sold 50,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 24.43% of the company's stock.
Hedge Funds Weigh In On Treace Medical Concepts
A number of large investors have recently made changes to their positions in TMCI. JPMorgan Chase & Co. boosted its position in shares of Treace Medical Concepts by 215.1% during the third 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 during the period. William Blair Investment Management LLC lifted its stake in Treace Medical Concepts by 22.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company's stock worth $21,865,000 after acquiring an additional 546,787 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 approximately $1,414,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Treace Medical Concepts in the 4th quarter valued at $1,025,000. Finally, Birchview Capital LP raised its position in shares of Treace Medical Concepts by 136.1% in the 4th quarter. Birchview Capital LP now owns 161,350 shares of the company's stock worth $1,200,000 after acquiring an additional 93,000 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.
Treace Medical Concepts Price Performance
TMCI traded down $0.18 during trading on Friday, reaching $7.97. 118,055 shares of the company traded hands, compared to its average volume of 740,088. The company has a market cap of $498.95 million, a P/E ratio of -8.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $12.74. The firm has a fifty day simple moving average of $9.21 and a 200 day simple moving average of $7.64.
Treace Medical Concepts Company Profile
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Get Free ReportTreace 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.
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