Truist Financial Has Lowered Expectations for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Treace Medical Concepts (NASDAQ:TMCI) had its price target cut by Truist Financial from $10.00 to $9.50 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 16.28% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reiterated 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 began coverage on Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.14.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI traded down $0.01 during mid-day trading on Thursday, reaching $8.17. 61,720 shares of the company traded hands, compared to its average volume of 728,405. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $13.24. The firm has a market cap of $511.60 million, a PE ratio of -8.25 and a beta of 0.77. The company’s 50 day moving average price is $9.15 and its 200-day moving average price is $7.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

Institutional Trading of Treace Medical Concepts

Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Treace Medical Concepts by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after purchasing an additional 1,216 shares during the last quarter. Rhumbline Advisers grew its holdings in Treace Medical Concepts by 2.0% during the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock valued at $492,000 after buying an additional 1,300 shares in the last quarter. Wolverine Trading LLC increased its stake in Treace Medical Concepts by 17.7% in 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 during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Treace Medical Concepts by 2.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Treace Medical Concepts by 10.2% during the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock valued at $186,000 after acquiring an additional 2,314 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.