Treace Medical price target lowered to $11 from $28 at Stifel

Stifel lowered the firm’s price target on Treace Medical to $11 from $28 and keeps a Buy rating on the shares. The company delivered a “more-complicated quarter,” with sales down q/q, up y/y, but fell short of consensus, the analyst tells investors. The underperformance was largely due to its key 30-60 year old female patient demographic took longer-than-anticipated travel and vacation times; and physicians also took more time-off than expected, the firm adds. Looking ahead, the firm sees Q4 sales under pressure by the same factors.