Lake Street Capital Cuts Treace Medical Concepts (NASDAQ:TMCI) Price Target to $7.00

Treace Medical Concepts (NASDAQ:TMCI) had its target price cut by Lake Street Capital from $7.50 to $7.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on TMCI. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. BTIG Research reissued a “neutral” rating on shares of Treace Medical Concepts in a research report on Friday, November 7th. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Finally, Truist Financial lowered their target price on shares of 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 analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Price Performance

TMCI stock opened at $1.47 on Monday. Treace Medical Concepts has a 1 year low of $1.41 and a 1 year high of $9.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.31 and a quick ratio of 2.36. The firm has a market capitalization of $94.95 million, a PE ratio of -1.56 and a beta of 0.77. The business has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $4.30.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm had revenue of $62.52 million for the quarter, compared to the consensus estimate of $61.76 million. Treace Medical Concepts had a negative return on equity of 59.91% and a negative net margin of 27.74%. Equities research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in TMCI. CenterBook Partners LP purchased a new position in shares of Treace Medical Concepts in the 2nd quarter valued at about $3,309,000. Acuitas Investments LLC purchased a new stake in shares of Treace Medical Concepts during the third quarter worth approximately $2,020,000. Y Intercept Hong Kong Ltd raised its holdings in Treace Medical Concepts by 645.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 232,413 shares of the company’s stock valued at $1,367,000 after acquiring an additional 201,252 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Treace Medical Concepts by 82.0% in the second quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock worth $5,339,000 after acquiring an additional 409,105 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Treace Medical Concepts by 93.9% during the 2nd quarter. AlphaQuest LLC now owns 20,250 shares of the company’s stock worth $119,000 after acquiring an additional 9,804 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Company Profile

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.