Treace Medical Concepts (NASDAQ:TMCI) Given New $10.00 Price Target at Truist Financial

Treace Medical Concepts (NASDAQ:TMCI) had its price objective hoisted by Truist Financial from $8.40 to $10.00 in a report issued on Monday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently weighed in on TMCI. Lake Street Capital began coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target for the company. Stifel Nicolaus lifted their target price on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research 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 price target on the stock in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.21.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $8.76 on Monday. The firm has a market cap of $545.72 million, a price-to-earnings ratio of -8.85 and a beta of 0.75. Treace Medical Concepts has a 1 year low of $3.92 and a 1 year high of $13.80. 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 business has a fifty day simple moving average of $8.95 and a 200 day simple moving average of $7.27.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Treace Medical Concepts by 228.5% in the 3rd quarter. FMR LLC now owns 78,135 shares of the company’s stock worth $453,000 after purchasing an additional 54,353 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts during the 3rd quarter worth about $58,000. Barclays PLC boosted its position in shares of Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company’s stock valued at $460,000 after acquiring an additional 62,073 shares in the last quarter. Franklin Resources Inc. bought a new stake in Treace Medical Concepts in the third quarter valued at about $212,000. Finally, JPMorgan Chase & Co. raised its position in Treace Medical Concepts by 215.1% in the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after purchasing an additional 861,689 shares in the last quarter. 84.08% of the stock is 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.