Treace Medical Concepts (NASDAQ:TMCI) Given New $9.50 Price Target at Truist Financial

Treace Medical Concepts (NASDAQ:TMCI) had its price target cut by Truist Financial from $10.00 to $9.50 in a report released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the company. Lake Street Capital started coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Treace Medical Concepts currently has a consensus rating of “Hold” and an average target price of $10.14.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $7.94 on Thursday. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $13.24. The stock has a 50 day moving average of $9.15 and a two-hundred day moving average of $7.38. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a market cap of $497.19 million, a P/E ratio of -8.02 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TMCI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $208,000 after acquiring an additional 1,216 shares during the last quarter. Rhumbline Advisers lifted its holdings in Treace Medical Concepts by 2.0% in the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock valued at $492,000 after acquiring an additional 1,300 shares during the last quarter. Wolverine Trading LLC lifted its holdings in Treace Medical Concepts by 17.7% in 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. Fuller & Thaler Asset Management Inc. lifted its holdings in Treace Medical Concepts by 2.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock valued at $620,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Treace Medical Concepts by 10.2% in the fourth 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. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.