Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives $4.21 Consensus Price Target from Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has earned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $4.2125.

TMCI has been the subject of a number of analyst reports. Truist Financial cut their price target on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. UBS Group cut their target price on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. BTIG Research reiterated a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th.

Treace Medical Concepts Trading Up 6.3%

Shares of TMCI stock opened at $2.01 on Tuesday. The firm has a fifty day moving average of $2.40 and a 200-day moving average of $4.52. The stock has a market cap of $128.08 million, a price-to-earnings ratio of -2.51 and a beta of 0.74. Treace Medical Concepts has a 52-week low of $1.81 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TMCI. Invesco Ltd. grew its position in Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after purchasing an additional 3,677 shares during the last quarter. Barclays PLC increased its stake in shares of Treace Medical Concepts by 7.4% in the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock valued at $215,000 after buying an additional 6,077 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Treace Medical Concepts by 5.1% in the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock valued at $958,000 after buying an additional 7,898 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.