Treace Medical Concepts (NASDAQ:TMCI) Stock Price Up 4.7% – Should You Buy?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s stock price traded up 4.7% during trading on Tuesday . The company traded as high as $8.21 and last traded at $8.35. 157,245 shares were traded during mid-day trading, a decline of 78% from the average session volume of 728,450 shares. The stock had previously closed at $7.97.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TMCI shares. Truist Financial lowered their price objective on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a research note on Thursday, March 13th. Lake Street Capital started coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective for the company. BTIG Research raised shares of 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. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.14.

Treace Medical Concepts Price Performance

The firm has a market capitalization of $531.32 million, a P/E ratio of -8.58 and a beta of 0.77. The stock’s 50 day simple moving average is $9.16 and its 200 day simple moving average is $7.42. 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 company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Treace Medical Concepts by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after buying an additional 1,216 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Treace Medical Concepts by 2.0% in the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after purchasing an additional 1,300 shares during the last quarter. Wolverine Trading LLC lifted its stake in Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after acquiring an additional 1,946 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Treace Medical Concepts by 2.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock valued at $620,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Treace Medical Concepts by 10.2% during the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock worth $186,000 after purchasing an additional 2,314 shares during the period. 84.08% of the stock is currently owned by hedge funds and other 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.