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

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

A number of other brokerages have also weighed in on TMCI. BTIG Research restated a “neutral” rating on shares of Treace Medical Concepts in a report on Friday, November 7th. Truist Financial cut their price target on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus reduced their price target on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $4.21.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI opened at $2.26 on Friday. The stock’s 50-day moving average is $2.58 and its 200 day moving average is $4.82. The stock has a market cap of $144.01 million, a price-to-earnings ratio of -2.83 and a beta of 0.74. Treace Medical Concepts has a 1-year low of $2.02 and a 1-year high of $10.45. The company has a current ratio of 3.37, a quick ratio of 2.36 and a debt-to-equity ratio of 0.60.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%.The business had revenue of $50.21 million during the quarter, compared to analyst estimates of $49.60 million. On average, sell-side analysts anticipate that Treace Medical Concepts will post -0.92 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

A number of institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new stake in shares of Treace Medical Concepts in the third quarter worth about $122,199,000. Weber Capital Management LLC ADV bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth approximately $1,445,000. CenterBook Partners LP bought a new stake in shares of Treace Medical Concepts in the 2nd quarter worth approximately $3,309,000. William Blair Investment Management LLC increased its stake in shares of Treace Medical Concepts by 17.2% during the third 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 during the period. Finally, First Eagle Investment Management LLC raised its holdings in shares of 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 valued at $5,339,000 after acquiring an additional 409,105 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

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.