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

Stifel Nicolaus lowered shares of Treace Medical Concepts (NASDAQ:TMCI) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat reports. Stifel Nicolaus currently has $6.00 price target on the stock, down from their prior price target of $15.00.

TMCI has been the topic of several other reports. BTIG Research downgraded 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 cut their price objective for the company from $15.00 to $8.00 in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Treace Medical Concepts currently has an average rating of Hold and an average price target of $13.57.

Treace Medical Concepts Price Performance

Shares of Treace Medical Concepts stock opened at $4.17 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. Treace Medical Concepts has a one year low of $3.92 and a one year high of $27.70. The stock has a market capitalization of $257.54 million, a P/E ratio of -5.15 and a beta of 0.37. The business’s 50 day simple moving average is $11.82 and its two-hundred day simple moving average is $11.67.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, hitting the consensus estimate of ($0.30). Treace Medical Concepts had a negative net margin of 26.47% and a negative return on equity of 33.96%. The business had revenue of $51.11 million during the quarter, compared to analyst estimates of $49.07 million. During the same period in the prior year, the business earned ($0.23) EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts forecast that Treace Medical Concepts will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Treace Medical Concepts by 3.9% in the third 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. Armistice Capital LLC acquired a new position in shares of Treace Medical Concepts during the 4th quarter worth approximately $36,414,000. William Blair Investment Management LLC grew its holdings in 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 valued at $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% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,749,120 shares of the company’s stock valued at $22,301,000 after purchasing an additional 315,691 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Treace Medical Concepts by 5.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after purchasing an additional 76,030 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other 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.