Treace Medical Concepts (NASDAQ:TMCI) Rating Lowered to “Sell” at Wall Street Zen

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

Several other analysts have also issued reports on TMCI. 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, January 21st. BTIG Research reissued a “neutral” rating on shares of Treace Medical Concepts in a report on Friday, November 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price target (down previously from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. Finally, Truist Financial dropped 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 report on Thursday, December 18th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $4.21.

Treace Medical Concepts Stock Down 2.1%

Shares of Treace Medical Concepts stock opened at $1.86 on Friday. Treace Medical Concepts has a 12-month low of $1.86 and a 12-month high of $10.30. The company’s fifty day simple moving average is $2.51 and its two-hundred day simple moving average is $4.68. The company has a current ratio of 3.37, a quick ratio of 2.36 and a debt-to-equity ratio of 0.60. The company has a market cap of $118.52 million, a P/E ratio of -2.33 and a beta of 0.74.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Treace Medical Concepts by 328.3% in the 2nd 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 boosted its holdings in shares of Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after purchasing an additional 3,677 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Treace Medical Concepts by 5.1% during the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock valued at $958,000 after purchasing an additional 7,898 shares in the last quarter. Finally, Gagnon Securities LLC increased its holdings in shares of Treace Medical Concepts by 0.4% in the third quarter. Gagnon Securities LLC now owns 2,258,238 shares of the company’s stock worth $15,153,000 after purchasing an additional 8,090 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other 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.