Truist Financial Lowers Treace Medical Concepts (NASDAQ:TMCI) Price Target to $9.50

Treace Medical Concepts (NASDAQ:TMCI) had its target price lowered by research analysts at Truist Financial from $10.00 to $9.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 19.50% from the company’s previous close.

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

Treace Medical Concepts Trading Up 0.1 %

TMCI opened at $7.95 on Thursday. Treace Medical Concepts has a one year low of $3.92 and a one year high of $13.24. The stock has a market capitalization of $497.82 million, a PE ratio of -8.03 and a beta of 0.77. The business’s 50 day moving average price is $9.16 and its 200 day moving average price is $7.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC lifted its position in Treace Medical Concepts by 22.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock valued at $21,865,000 after purchasing an additional 546,787 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after acquiring an additional 714,984 shares during the period. Geode Capital Management LLC increased 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 worth $7,909,000 after purchasing an additional 22,159 shares in the last quarter. State Street Corp increased its stake 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 worth $5,785,000 after purchasing an additional 39,907 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Treace Medical Concepts by 11.4% in the 4th 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 period. Institutional investors and hedge funds 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.