Truist Financial Raises Treace Medical Concepts (NASDAQ:TMCI) Price Target to $10.00

Treace Medical Concepts (NASDAQ:TMCI) had its target price upped by equities researchers at Truist Financial from $8.40 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 13.12% from the company’s previous close.

TMCI has been the subject of a number of other reports. BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Stifel Nicolaus increased their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Lake Street Capital began coverage on Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.21.

Treace Medical Concepts Stock Up 0.9 %

Shares of NASDAQ:TMCI opened at $8.84 on Monday. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $550.71 million, a P/E ratio of -8.93 and a beta of 0.75. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $13.80. The stock’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $7.29.

Hedge Funds Weigh In On Treace Medical Concepts

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

Treace Medical Concepts Company Profile

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.