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

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

Several other analysts also recently commented on TMCI. Stifel Nicolaus reduced their target price on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. Truist Financial lowered their price objective on Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. BTIG Research reissued a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.21.

Treace Medical Concepts Trading Down 2.1%

Shares of Treace Medical Concepts stock opened at $1.86 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.37 and a quick ratio of 2.36. The business has a fifty day simple moving average of $2.49 and a two-hundred day simple moving average of $4.65. Treace Medical Concepts has a 1 year low of $1.86 and a 1 year high of $10.30. The company has a market capitalization of $118.52 million, a price-to-earnings ratio of -2.33 and a beta of 0.74.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. CenterBook Partners LP acquired a new position in Treace Medical Concepts during the 2nd quarter worth approximately $3,309,000. Acuitas Investments LLC acquired a new position in shares of Treace Medical Concepts during the third quarter worth $2,020,000. William Blair Investment Management LLC lifted its stake in shares of Treace Medical Concepts by 1.3% in 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 acquiring an additional 39,283 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of 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 acquiring an additional 201,252 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Treace Medical Concepts by 82.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock worth $5,339,000 after acquiring an additional 409,105 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.