Treace Medical Concepts (NASDAQ:TMCI) Rating Lowered to Hold at Stifel Nicolaus

Treace Medical Concepts (NASDAQ:TMCI) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $6.00 target price on the stock, down from their prior target price of $15.00. Stifel Nicolaus’ price objective would indicate a potential upside of 35.44% from the stock’s previous close.

TMCI has been the topic of a number of other research reports. BTIG Research lowered Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. cut 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. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Treace Medical Concepts currently has an average rating of “Hold” and a consensus price target of $13.57.

Treace Medical Concepts Trading Up 6.2 %

NASDAQ:TMCI opened at $4.43 on Wednesday. The company has a quick ratio of 3.76, a current ratio of 4.40 and a debt-to-equity ratio of 0.38. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $27.70. The stock’s 50 day moving average price is $11.64 and its 200 day moving average price is $11.62. The company has a market capitalization of $273.60 million, a PE ratio of -5.47 and a beta of 0.37.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, hitting the consensus estimate of ($0.30). The business had revenue of $51.11 million during the quarter, compared to the consensus estimate of $49.07 million. Treace Medical Concepts had a negative net margin of 26.47% and a negative return on equity of 33.96%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. On average, research analysts anticipate that Treace Medical Concepts will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Treace Medical Concepts by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 4,093 shares of the company’s stock valued at $54,000 after purchasing an additional 1,340 shares in the last quarter. Quest Partners LLC acquired a new stake in Treace Medical Concepts in the fourth quarter valued at $68,000. Newbridge Financial Services Group Inc. increased its position in shares of Treace Medical Concepts by 100.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after buying an additional 3,567 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Treace Medical Concepts by 20.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company’s stock worth $107,000 after buying an additional 1,376 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its position in shares of Treace Medical Concepts by 763.9% in the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after buying an additional 7,952 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Company Profile

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.