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

Treace Medical Concepts (NASDAQ:TMCI) had its target price lifted by Truist Financial from $8.40 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 13.69% from the company’s current price.

Other research analysts have also issued research reports about the stock. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their price target on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.21.

Treace Medical Concepts Price Performance

Shares of TMCI traded down $0.14 during mid-day trading on Monday, hitting $8.80. The company’s stock had a trading volume of 148,430 shares, compared to its average volume of 726,899. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The firm has a 50-day moving average price of $8.91 and a 200 day moving average price of $7.25. Treace Medical Concepts has a fifty-two week low of $3.92 and a fifty-two week high of $13.80. The stock has a market capitalization of $547.96 million, a price-to-earnings ratio of -8.85 and a beta of 0.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC grew its stake in Treace Medical Concepts by 22.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock valued at $21,865,000 after acquiring an additional 546,787 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Treace Medical Concepts by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock worth $14,711,000 after buying an additional 714,984 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Treace Medical Concepts by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock valued at $7,909,000 after buying an additional 22,159 shares during the period. State Street Corp grew its holdings in shares of Treace Medical Concepts by 4.2% during the 3rd quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after acquiring an additional 39,907 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Treace Medical Concepts by 11.4% in the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company’s stock worth $3,518,000 after acquiring an additional 48,525 shares during the last quarter. Hedge funds and other 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.