Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Rating of "Hold" from Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) have earned a consensus rating of "Hold" from the seven analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.93.

TMCI has been the subject of several research reports. BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Tuesday, February 4th. Truist Financial reduced their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Lake Street Capital initiated coverage on Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a "buy" rating and a $14.50 target price for the company.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now owns 364,081 shares in the company, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 27.72% of the company's stock.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in TMCI. HighTower Advisors LLC acquired a new position in Treace Medical Concepts during the 3rd quarter valued at about $58,000. State Street Corp boosted its stake in shares of Treace Medical Concepts by 4.2% in the 3rd quarter. State Street Corp now owns 997,453 shares of the company's stock worth $5,785,000 after buying an additional 39,907 shares during the last quarter. Barclays PLC boosted its stake in shares of Treace Medical Concepts by 352.2% in the 3rd quarter. Barclays PLC now owns 79,696 shares of the company's stock worth $460,000 after buying an additional 62,073 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Treace Medical Concepts in the 3rd quarter worth approximately $148,000. Finally, Franklin Resources Inc. purchased a new position in shares of Treace Medical Concepts in the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Trading Up 2.7 %

Shares of TMCI stock traded up $0.18 during mid-day trading on Wednesday, hitting $6.90. The company's stock had a trading volume of 368,409 shares, compared to its average volume of 750,179. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The company's fifty day simple moving average is $7.95 and its 200-day simple moving average is $7.86. The company has a market cap of $433.94 million, a PE ratio of -6.97 and a beta of 0.77. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $11.33.

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.