Treace Medical Concepts (NASDAQ:TMCI) Rating Lowered to Neutral at BTIG Research

Treace Medical Concepts (NASDAQ:TMCI) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports.

Treace Medical Concepts Stock Performance

TMCI opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.40 and a quick ratio of 3.76. The firm has a fifty day moving average price of $12.07 and a 200 day moving average price of $11.72. Treace Medical Concepts has a 1 year low of $5.27 and a 1 year high of $27.70. The stock has a market cap of $686.77 million, a P/E ratio of -13.73 and a beta of 0.37.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Tuesday, February 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $60.56 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that Treace Medical Concepts will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Treace Medical Concepts by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,189,582 shares of the company’s stock worth $54,925,000 after acquiring an additional 155,835 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Treace Medical Concepts during the fourth quarter worth $36,414,000. William Blair Investment Management LLC grew its holdings in shares of Treace Medical Concepts by 83.3% during the third 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 in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Treace Medical Concepts by 22.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock worth $22,301,000 after buying an additional 315,691 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Treace Medical Concepts by 5.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock worth $18,616,000 after buying an additional 76,030 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.