Truist Financial analyst Richard Newitter maintained a Hold rating on Treace Medical Concepts today and set a price target of $8.00.
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Richard Newitter has given his Hold rating due to a combination of factors related to Treace Medical Concepts’ recent developments and market position. The company has introduced three new products aimed at expanding its portfolio and addressing gaps in the minimally invasive surgery (MIS) bunion market. These products are expected to drive double-digit growth in the latter half of 2025 and beyond. However, Newitter remains cautious, awaiting more evidence that these new rollouts can sustain growth amidst increasing competition.
Another reason for the Hold rating is the potential risk of growth stalling if competitors launch similar products, as was previously seen with lapiplasty. Despite these concerns, the price target has been raised to $8, reflecting a higher valuation multiple due to improved growth prospects. The company’s strategy to penetrate a larger portion of the bunion surgery market and provide a comprehensive solution for surgeons is promising, but Newitter seeks greater confidence in the long-term sustainability of these growth trends before considering an upgrade in the rating.
According to TipRanks, Newitter is a 5-star analyst with an average return of 13.4% and a 53.97% success rate. Newitter covers the Healthcare sector, focusing on stocks such as PROCEPT BioRobotics, Lantheus, and Beta Bionics, Inc..
In another report released on August 23, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $8.00 price target.