Stifel Nicolaus Lowers Treace Medical Concepts (NASDAQ:TMCI) to Hold

Treace Medical Concepts (NASDAQ:TMCI) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $6.00 price target on the stock, down from their prior price target of $15.00. Stifel Nicolaus’ price target suggests a potential downside of 46.04% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. BTIG Research cut shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $8.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.21.

Treace Medical Concepts Stock Down 0.8 %

TMCI opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 4.40. Treace Medical Concepts has a fifty-two week low of $5.27 and a fifty-two week high of $27.70. The firm’s fifty day moving average is $12.07 and its 200 day moving average is $11.72. The stock has a market cap of $686.77 million, a price-to-earnings ratio of -13.73 and a beta of 0.37.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, February 27th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Treace Medical Concepts had a negative net margin of 26.47% and a negative return on equity of 33.96%. The firm had revenue of $62.20 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts forecast that Treace Medical Concepts will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

A number of large investors have recently made changes to their positions in TMCI. Armistice Capital LLC bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $36,414,000. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 83.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,786,001 shares of the company’s stock worth $23,414,000 after buying an additional 811,777 shares during the last quarter. Norges Bank bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $8,725,000. TimesSquare Capital Management LLC increased its holdings in shares of Treace Medical Concepts by 68.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,433,429 shares of the company’s stock worth $18,792,000 after buying an additional 584,539 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Treace Medical Concepts by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,189,582 shares of the company’s stock valued at $54,925,000 after purchasing an additional 155,835 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.