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

Treace Medical Concepts (NASDAQ:TMCI) had its price target cut by Truist Financial from $10.00 to $9.50 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts also recently commented on TMCI. Lake Street Capital assumed coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price on the stock. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.14.

Treace Medical Concepts Stock Up 0.1 %

Shares of Treace Medical Concepts stock opened at $7.95 on Thursday. The stock’s fifty day moving average is $9.16 and its 200-day moving average is $7.40. The firm has a market capitalization of $497.82 million, a PE ratio of -8.03 and a beta of 0.77. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. Treace Medical Concepts has a 12-month low of $3.92 and a 12-month high of $13.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Treace Medical Concepts in the 3rd quarter worth $38,000. Quantbot Technologies LP bought a new position in shares of Treace Medical Concepts in the 4th quarter worth $69,000. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts in the 3rd quarter worth $58,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Treace Medical Concepts in the 4th quarter worth $77,000. Finally, Bayesian Capital Management LP acquired a new stake in Treace Medical Concepts during the 4th quarter worth $77,000. 84.08% of the stock is currently owned by institutional investors.

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.