Treace Medical Concepts (NASDAQ:TMCI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Treace Medical Concepts (NASDAQ:TMCI) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

TMCI has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, January 21st. Lake Street Capital cut their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Stifel Nicolaus cut their price objective on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Finally, Truist Financial cut their price objective on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Trading Up 11.0%

Shares of TMCI opened at $2.01 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.31 and a quick ratio of 3.13. Treace Medical Concepts has a 1 year low of $1.17 and a 1 year high of $7.78. The company has a 50 day simple moving average of $1.64 and a two-hundred day simple moving average of $3.14. The firm has a market cap of $130.21 million, a P/E ratio of -2.14 and a beta of 0.87.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $61.76 million. On average, equities analysts expect that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $122,199,000. Acuitas Investments LLC bought a new position in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $2,020,000. William Blair Investment Management LLC boosted its position in shares of Treace Medical Concepts by 17.2% during 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 acquiring an additional 534,486 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Treace Medical Concepts by 36.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock valued at $8,313,000 after acquiring an additional 330,866 shares during the last quarter. Finally, Birchview Capital LP boosted its position in shares of Treace Medical Concepts by 7.3% during the 2nd quarter. Birchview Capital LP now owns 176,947 shares of the company’s stock valued at $1,040,000 after acquiring an additional 12,000 shares during the last quarter. 84.08% of the stock is currently owned by 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.