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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.21.

A number of brokerages recently weighed in on TMCI. 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note 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 research note on Tuesday, February 4th. Truist Financial lifted their target price on shares of Treace Medical Concepts from $8.40 to $10.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $8.76 on Tuesday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $13.80. The firm has a fifty day simple moving average of $8.95 and a 200 day simple moving average of $7.27. The company has a market capitalization of $545.72 million, a PE ratio of -8.85 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.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Treace Medical Concepts by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock valued at $208,000 after buying an additional 1,216 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Treace Medical Concepts by 2.0% during the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock valued at $492,000 after buying an additional 1,300 shares during the last quarter. Wolverine Trading LLC grew its holdings 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 buying an additional 1,946 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Treace Medical Concepts by 2.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock valued at $620,000 after buying an additional 2,150 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Treace Medical Concepts by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock valued at $186,000 after buying an additional 2,314 shares during the last quarter. 84.08% of the stock is owned by institutional investors.

About Treace Medical Concepts

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.