Treace Medical Concepts (NASDAQ:TMCI) Stock Rating Lowered by Wall Street Zen

Treace Medical Concepts (NASDAQ:TMCI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other analysts have also issued research reports about the stock. UBS Group dropped their price target on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a research note on Friday, November 7th. Lake Street Capital dropped their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus lowered their price objective on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. One 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 data from MarketBeat.com, Treace Medical Concepts currently has a consensus rating of “Reduce” and an average target price of $4.77.

Treace Medical Concepts Stock Down 6.4%

Shares of NASDAQ TMCI opened at $1.47 on Tuesday. Treace Medical Concepts has a 1 year low of $1.41 and a 1 year high of $9.56. The firm has a market cap of $94.95 million, a price-to-earnings ratio of -1.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.36 and a current ratio of 4.31. The stock’s 50-day simple moving average is $2.30 and its 200-day simple moving average is $4.30.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). Treace Medical Concepts had a negative return on equity of 59.91% and a negative net margin of 27.74%.The firm had revenue of $62.52 million during the quarter, compared to the consensus estimate of $61.76 million. As a group, equities analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

A number of large investors have recently modified their holdings of TMCI. CenterBook Partners LP acquired a new position in Treace Medical Concepts during the 2nd quarter worth $3,309,000. Acuitas Investments LLC bought a new stake in shares of Treace Medical Concepts during the third quarter valued at about $2,020,000. First Eagle Investment Management LLC lifted its holdings in Treace Medical Concepts by 82.0% in 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 lifted its holdings in Treace Medical Concepts by 93.9% in 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 grew its position in Treace Medical Concepts by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after buying an additional 534,486 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

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.