Lake Street Capital Issues Pessimistic Forecast for Treace Medical Concepts (NASDAQ:TMCI) Stock Price

Treace Medical Concepts (NASDAQ:TMCI) had its target price decreased by Lake Street Capital from $7.50 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price target would indicate a potential upside of 345.86% from the company’s previous close.

Several other equities analysts have also recently commented on TMCI. 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. Stifel Nicolaus cut 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 report on Wednesday, January 7th. UBS Group reduced 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 report on Friday, November 7th. BTIG Research reiterated a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Finally, Truist Financial dropped their price objective on Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $4.77.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI opened at $1.57 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37. Treace Medical Concepts has a 52-week low of $1.52 and a 52-week high of $9.56. The firm has a market cap of $101.41 million, a price-to-earnings ratio of -1.67 and a beta of 0.77. The business’s fifty day moving average is $2.32 and its 200 day moving average is $4.32.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, February 27th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $62.52 million during the quarter, compared to the consensus estimate of $61.76 million. Treace Medical Concepts had a negative return on equity of 58.37% and a negative net margin of 27.74%. Research analysts predict that Treace Medical Concepts will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Treace Medical Concepts in the third quarter valued at about $122,199,000. Armistice Capital LLC increased its holdings in Treace Medical Concepts by 0.8% during the 4th quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock valued at $15,592,000 after purchasing an additional 48,000 shares during the period. William Blair Investment Management LLC raised its position in 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 purchasing an additional 534,486 shares during the last quarter. Gagnon Securities LLC raised its position in Treace Medical Concepts by 37.7% during the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after purchasing an additional 852,337 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Treace Medical Concepts by 12.7% in the 3rd quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock worth $11,475,000 after buying an additional 192,929 shares during the period. 84.08% of the stock is currently owned by 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.