Treace Medical Concepts (NASDAQ:TMCI - Free Report) had its price objective increased by Truist Financial from $8.40 to $10.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the stock.
TMCI has been the subject of a number of other research reports. Stifel Nicolaus raised their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. BTIG Research raised Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Lake Street Capital assumed coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a "buy" rating and a $14.50 price objective for the company. Five equities 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.com, Treace Medical Concepts has an average rating of "Hold" and a consensus price target of $10.21.
View Our Latest Stock Analysis on Treace Medical Concepts
Treace Medical Concepts Stock Performance
Shares of Treace Medical Concepts stock traded down $0.41 during midday trading on Monday, hitting $8.72. The company had a trading volume of 599,724 shares, compared to its average volume of 729,378. The company has a fifty day simple moving average of $9.03 and a 200 day simple moving average of $7.30. The stock has a market cap of $543.23 million, a price-to-earnings ratio of -8.81 and a beta of 0.75. The company has a quick ratio of 2.98, a current ratio of 4.12 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 $13.80.
Hedge Funds Weigh In On Treace Medical Concepts
A number of institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Treace Medical Concepts in the third quarter worth about $38,000. HighTower Advisors LLC purchased a new stake in Treace Medical Concepts in the 3rd quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. boosted its position 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 worth $62,000 after purchasing an additional 7,522 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Treace Medical Concepts during the 4th quarter worth approximately $69,000. Finally, Wolverine Trading LLC increased its holdings in shares of Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company's stock valued at $75,000 after purchasing an additional 1,946 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.
Treace Medical Concepts Company Profile
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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.
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