Treace Medical Concepts (NASDAQ:TMCI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Treace Medical Concepts (NASDAQ:TMCI) from a sell rating to a hold rating in a research report sent to investors on Monday.

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

Treace Medical Concepts Trading Up 6.3%

NASDAQ TMCI opened at $2.01 on Monday. The firm has a market capitalization of $128.08 million, a P/E ratio of -2.51 and a beta of 0.74. The business has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $4.52. Treace Medical Concepts has a 12 month low of $1.81 and a 12 month high of $10.03. The company has a current ratio of 3.37, a quick ratio of 2.36 and a debt-to-equity ratio of 0.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Treace Medical Concepts during the 3rd quarter worth approximately $122,199,000. Armistice Capital LLC lifted its stake in Treace Medical Concepts by 0.8% in the fourth quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock valued at $15,592,000 after purchasing an additional 48,000 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Treace Medical Concepts by 17.2% during the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after purchasing an additional 534,486 shares during the period. Gagnon Securities LLC increased its position in Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after buying an additional 852,337 shares during the last quarter. Finally, Millennium Management LLC increased its position in Treace Medical Concepts by 12.7% in the third quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock worth $11,475,000 after buying an additional 192,929 shares during the last quarter. 84.08% of the stock is currently 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.