BTIG analyst Ryan Zimmerman upgraded Treace Medical (TMCI) to Buy from Neutral with a $16 price target The company has pivoted away from offering solely Lapiplasty, its leading technology, in bunion surgery in order to capture a broader share of the surgical bunion market, the analyst tells investors in a research note. The firm thinks the dynamics around the shares “have improved for a number of reasons,” including more conservative guidance, a more favorable reimbursement environment, increasing interest from larger companies in foot and ankle, and its supportive survey results. All of these dynamics set the stage for a “far better” fiscal 2025 for Treace Medical, which warrants a higher multiple in the shares, contends BTIG.
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