Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Consensus Rating of “Hold” from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.14.

A number of research analysts have recently weighed in on the company. Truist Financial cut their price objective on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, February 4th. Finally, Lake Street Capital assumed coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective on the stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $7.75 on Friday. The business has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $7.67. The company has a market cap of $485.30 million, a PE ratio of -7.83 and a beta of 0.77. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Treace Medical Concepts during the third quarter worth approximately $38,000. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts in the 3rd quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Treace Medical Concepts by 243.4% during the third 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 during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $69,000. Finally, Wolverine Trading LLC boosted its stake in shares of Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after acquiring an additional 1,946 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.