Treace Medical Concepts (NASDAQ:TMCI) Cut to “Sell” at 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 note released on Tuesday morning.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, January 21st. UBS Group dropped their target price on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a report on Friday, November 7th. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Lake Street Capital lowered their price target on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 price target (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $4.77.

Treace Medical Concepts Stock Down 5.4%

TMCI stock opened at $1.39 on Tuesday. The business has a 50 day moving average of $2.28 and a 200 day moving average of $4.28. The firm has a market cap of $89.78 million, a PE ratio of -1.48 and a beta of 0.77. Treace Medical Concepts has a twelve month low of $1.36 and a twelve month high of $9.06. The company has a quick ratio of 2.36, a current ratio of 4.31 and a debt-to-equity ratio of 0.64.

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

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds have recently modified their holdings of TMCI. Invesco Ltd. grew its position in shares of Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after purchasing an additional 2,362 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after buying an additional 3,677 shares during the last quarter. Barclays PLC lifted its holdings in shares of Treace Medical Concepts by 7.4% in the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after buying an additional 6,077 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Treace Medical Concepts by 5.1% in the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock worth $958,000 after buying an additional 7,898 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.