Wall Street Zen Downgrades Treace Medical Concepts (NASDAQ:TMCI) to Sell

Treace Medical Concepts (NASDAQ:TMCI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

TMCI has been the subject of a number of other reports. UBS Group dropped their price objective on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price target (down previously from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. Truist Financial reduced their price objective on Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. Finally, Stifel Nicolaus dropped their target price on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.21.

Treace Medical Concepts Trading Down 2.1%

TMCI stock opened at $1.86 on Friday. The firm has a fifty day moving average price of $2.51 and a 200 day moving average price of $4.68. Treace Medical Concepts has a fifty-two week low of $1.86 and a fifty-two week high of $10.30. The firm has a market cap of $118.52 million, a PE ratio of -2.33 and a beta of 0.74. 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 Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently modified their holdings of the business. CenterBook Partners LP bought a new stake in shares of Treace Medical Concepts during the second quarter worth $3,309,000. Acuitas Investments LLC purchased a new position in Treace Medical Concepts in the 3rd quarter worth about $2,020,000. William Blair Investment Management LLC lifted its holdings in Treace Medical Concepts by 1.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock valued at $18,227,000 after buying an additional 39,283 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Treace Medical Concepts by 645.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 232,413 shares of the company’s stock valued at $1,367,000 after buying an additional 201,252 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Treace Medical Concepts by 82.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock valued at $5,339,000 after buying an additional 409,105 shares during the period. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Company Profile

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.