Treace Medical Concepts (NASDAQ:TMCI) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Treace Medical Concepts (NASDAQ:TMCI) from a sell rating to a strong sell rating in a research note published on Sunday morning.

Several other brokerages also recently weighed in on TMCI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Stifel Nicolaus decreased their price target 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. Finally, Lake Street Capital dropped their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Treace Medical Concepts presently has an average rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $1.83 on Friday. The stock has a market capitalization of $118.55 million, a price-to-earnings ratio of -1.95 and a beta of 0.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.31 and a quick ratio of 3.13. The business has a 50-day moving average of $1.63 and a 200 day moving average of $2.95. Treace Medical Concepts has a 12 month low of $1.17 and a 12 month high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $62.52 million for the quarter, compared to analyst estimates of $61.76 million. Treace Medical Concepts had a negative net margin of 27.74% and a negative return on equity of 59.91%. As a group, sell-side analysts forecast that Treace Medical Concepts will post -0.84 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in shares of Treace Medical Concepts in the 1st quarter valued at $491,000. Millennium Management LLC lifted its position in Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after acquiring an additional 116,114 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Treace Medical Concepts by 133,241.9% in the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock valued at $243,000 after acquiring an additional 41,305 shares in the last quarter. Invesco Ltd. boosted its stake in Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after acquiring an additional 2,362 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Treace Medical Concepts by 256.2% during the second quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock worth $799,000 after purchasing an additional 97,729 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.