Treace Medical Concepts (NASDAQ:TMCI) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Treace Medical Concepts (NASDAQ:TMCI) from a hold rating to a sell rating in a research report report published on Tuesday.

A number of other research firms have also commented on TMCI. Stifel Nicolaus lowered their price target on 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 reduced their target price 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. BTIG Research reiterated a “neutral” rating on shares of Treace Medical Concepts in a report on Friday, November 7th. UBS Group dropped their price target on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $4.77.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $1.57 on Tuesday. The stock has a market cap of $101.41 million, a price-to-earnings ratio of -1.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37. Treace Medical Concepts has a fifty-two week low of $1.52 and a fifty-two week high of $9.56. The firm’s 50-day simple moving average is $2.32 and its 200 day simple moving average is $4.32.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative return on equity of 58.37% and a negative net margin of 27.74%.The firm had revenue of $62.52 million during the quarter, compared to analyst estimates of $61.76 million. As a group, research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently added to or reduced their stakes in TMCI. CenterBook Partners LP purchased a new stake in Treace Medical Concepts in the 2nd quarter worth about $3,309,000. Acuitas Investments LLC purchased a new stake in Treace Medical Concepts during the third quarter valued at about $2,020,000. First Eagle Investment Management LLC boosted its position in Treace Medical Concepts by 82.0% during the second quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock worth $5,339,000 after purchasing an additional 409,105 shares during the period. AlphaQuest LLC boosted its position in Treace Medical Concepts by 93.9% during the second quarter. AlphaQuest LLC now owns 20,250 shares of the company’s stock worth $119,000 after purchasing an additional 9,804 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after purchasing an additional 534,486 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

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.