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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.93.

A number of research firms have commented on TMCI. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, February 4th. Truist Financial reduced their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Finally, Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 364,081 shares in the company, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in Treace Medical Concepts in the third quarter valued at about $58,000. State Street Corp raised its position in shares of Treace Medical Concepts by 4.2% in the 3rd quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after acquiring an additional 39,907 shares during the period. Barclays PLC boosted its stake in Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company’s stock worth $460,000 after acquiring an additional 62,073 shares during the last quarter. Virtu Financial LLC acquired a new position in Treace Medical Concepts during the third quarter valued at approximately $148,000. Finally, Franklin Resources Inc. bought a new stake in Treace Medical Concepts in the third quarter valued at approximately $212,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Down 2.8 %

Shares of TMCI opened at $6.26 on Wednesday. The company has a market capitalization of $393.69 million, a P/E ratio of -6.32 and a beta of 0.77. Treace Medical Concepts has a one year low of $3.92 and a one year high of $11.39. The business’s 50 day simple moving average is $8.22 and its 200-day simple moving average is $7.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

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.