Wall Street Zen Upgrades Treace Medical Concepts (NASDAQ:TMCI) to Hold

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

A number of other research firms have also recently issued reports on TMCI. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. UBS Group dropped their price target on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Stifel Nicolaus cut their price target 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. Finally, Truist Financial reduced their price objective on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.21.

Treace Medical Concepts Stock Down 2.0%

Shares of TMCI stock opened at $1.97 on Monday. Treace Medical Concepts has a 52-week low of $1.81 and a 52-week high of $10.03. The stock has a market cap of $125.53 million, a price-to-earnings ratio of -2.46 and a beta of 0.74. The firm’s 50-day moving average is $2.38 and its 200-day moving average is $4.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds have recently bought and sold shares of TMCI. AQR Capital Management LLC acquired a new position in shares of Treace Medical Concepts during the 1st quarter worth approximately $491,000. Millennium Management LLC boosted its stake in shares of Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after buying an additional 116,114 shares during the period. AlphaQuest LLC grew its position in Treace Medical Concepts by 93.9% during the second quarter. AlphaQuest LLC now owns 20,250 shares of the company’s stock worth $119,000 after buying an additional 9,804 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake 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 worth $1,367,000 after acquiring an additional 201,252 shares during the period. Finally, First Eagle Investment Management LLC increased its stake 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 period. 84.08% of the stock is owned by institutional investors.

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.