Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Average Rating of “Reduce” by Brokerages

Treace Medical Concepts, Inc. (NASDAQ:TMCI) has been assigned an average recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $4.2125.

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research report on Sunday. Truist Financial decreased their price objective on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a research report on Friday, November 7th. UBS Group dropped their target price on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Treace Medical Concepts in the 1st quarter worth about $491,000. Millennium Management LLC raised its position in Treace Medical Concepts by 35.3% during the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after acquiring an additional 116,114 shares during the last quarter. William Blair Investment Management LLC raised its position in Treace Medical Concepts by 1.3% during the second quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock worth $18,227,000 after acquiring an additional 39,283 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Treace Medical Concepts by 93.9% in the second quarter. AlphaQuest LLC now owns 20,250 shares of the company’s stock valued at $119,000 after purchasing an additional 9,804 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Treace Medical Concepts by 645.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 232,413 shares of the company’s stock valued at $1,367,000 after purchasing an additional 201,252 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Stock Performance

Shares of TMCI stock opened at $1.86 on Tuesday. 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 stock has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $4.65. The company has a market cap of $118.52 million, a price-to-earnings ratio of -2.33 and a beta of 0.74. Treace Medical Concepts has a 12-month low of $1.86 and a 12-month high of $10.30.

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.