Treace Medical Concepts (NASDAQ:TMCI) Trading 4.7% Higher - Should You Buy?

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) traded up 4.7% on Tuesday . The stock traded as high as $8.21 and last traded at $8.35. 157,245 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 728,450 shares. The stock had previously closed at $7.97.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial dropped their price target on Treace Medical Concepts from $10.00 to $9.50 and set a "hold" rating for the company in a research note on Thursday, March 13th. 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 research note on Tuesday, February 4th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Lake Street Capital started coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a "buy" rating and a $14.50 price target for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of "Hold" and a consensus target price of $10.14.

Treace Medical Concepts Stock Up 0.4 %

The firm has a market capitalization of $516.61 million, a PE ratio of -8.33 and a beta of 0.77. The company has a fifty day moving average price of $9.22 and a 200-day moving average price of $7.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

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Insider Activity at Treace Medical Concepts

In related news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.43% of the stock is currently owned by insiders.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently bought and sold shares of TMCI. Intech Investment Management LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at $118,000. Charles Schwab Investment Management Inc. raised its holdings in Treace Medical Concepts by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company's stock valued at $2,268,000 after buying an additional 17,783 shares during the period. FMR LLC raised its holdings in Treace Medical Concepts by 228.5% during the 3rd quarter. FMR LLC now owns 78,135 shares of the company's stock valued at $453,000 after buying an additional 54,353 shares during the period. Walleye Capital LLC purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at $75,000. Finally, Verition Fund Management LLC grew its position in Treace Medical Concepts by 10.6% in the 3rd quarter. Verition Fund Management LLC now owns 88,370 shares of the company's stock valued at $513,000 after acquiring an additional 8,468 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.

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.