Treace Medical Concepts (NASDAQ:TMCI) Price Target Raised to $10.00 at Truist Financial

Treace Medical Concepts (NASDAQ:TMCI) had its price objective hoisted by Truist Financial from $8.40 to $10.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms have also recently weighed in on TMCI. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Stifel Nicolaus raised their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Lake Street Capital initiated coverage on Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price for the company. Finally, BTIG Research upgraded 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of “Hold” and a consensus price target of $10.21.

Treace Medical Concepts Stock Performance

NASDAQ TMCI opened at $9.13 on Monday. The stock has a market cap of $568.77 million, a PE ratio of -9.22 and a beta of 0.75. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $13.80. The stock has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $7.30.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Treace Medical Concepts in the 3rd quarter valued at about $38,000. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts in the 3rd quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. raised 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 valued at $62,000 after purchasing an additional 7,522 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Treace Medical Concepts in the 4th quarter valued at about $69,000. Finally, Wolverine Trading LLC raised its position 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 worth $75,000 after acquiring an additional 1,946 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

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.