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

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $10.14.

A number of research firms recently commented on TMCI. Lake Street Capital started coverage on Treace Medical Concepts in a report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. Truist Financial cut their price target on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Finally, BTIG Research upgraded shares of 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.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $8.45 on Friday. The firm has a fifty day moving average of $9.24 and a two-hundred day moving average of $7.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The stock has a market capitalization of $529.13 million, a price-to-earnings ratio of -8.54 and a beta of 0.77. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $13.24.

Insider Activity at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors have recently bought and sold shares of TMCI. Intech Investment Management LLC acquired a new position in Treace Medical Concepts during the third quarter worth $118,000. Charles Schwab Investment Management Inc. raised its holdings in Treace Medical Concepts by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company’s stock worth $2,268,000 after acquiring an additional 17,783 shares in the last quarter. FMR LLC grew its stake in Treace Medical Concepts by 228.5% in the third quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after purchasing an additional 54,353 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Treace Medical Concepts during the 3rd quarter worth approximately $75,000. Finally, Verition Fund Management LLC boosted its holdings in shares of Treace Medical Concepts by 10.6% in the 3rd quarter. Verition Fund Management LLC now owns 88,370 shares of the company’s stock valued at $513,000 after buying an additional 8,468 shares during the last quarter. Institutional investors 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.