Treace Medical Concepts Reports First Quarter 2024 Financial Results

Morgan Stanley Downgrades Treace Medical Concepts Inc (TMCI) to Equalweight

Morgan Stanley analyst Drew Ranieri downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Overweight to Equalweight with a price target of $5.50 (from $15.00).

The analyst comments "Competitive disruptions are hitting Treace's commercial momentum with the company now playing innovation catch up, lowering our... More

Truist Securities Downgrades Treace Medical Concepts Inc (TMCI) to Hold

Truist Securities analyst Richard Newitter downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Buy to Hold with a price target of $7.00 (from $17.00).

The analyst comments "We downgrade TMCI to Hold from Buy on a reduced growth outlook & projected deceleration trend in 2Q24/2024 due... More

Stifel Downgrades Treace Medical Concepts Inc (TMCI) to Hold

Stifel analyst Rick Wise downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Buy to Hold with a price target of $6.00 (from $15.00).

The analyst comments "We are downgrading TMCI to Hold and lowering our price target to $6 from $15, as multiple increasing competitive headwinds have added incremental... More

BTIG Downgrades Treace Medical Concepts Inc (TMCI) to Neutral

BTIG analyst Ryan Zimmerman downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Buy to Neutral.

The analyst comments "We are downgrading TMCI shares to Neutral and removing our PT following TMCI's 1Q24 results. Quarterly results were fine as TMCI reported rev. of $51.1M (21.1% Y/Y), above BTIG/Consensus est. of $49.1M/$49.1M as a seasonally strong 4Q extended into the early part of the year. However, increasing pressure from competitors offering osteotomy-specific... More

JPMorgan Downgrades Treace Medical Concepts Inc (TMCI) to Neutral

JPMorgan analyst Robbie Marcus downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Overweight to Neutral with a price target of $8.00 (from $15.00).

The analyst comments "Treace reported a disappointing update after the close on Tuesday as a good quarter came alongside a significant cut to guidance due to growing competitive headwinds. Starting with the quarter, sales of $51.1M (+21%) came... More

Treace Medical Concepts, Inc. (TMCI) Misses Q1 EPS by 3c, Beats on Revenue; Lowers FY24 Revenue Guidance

Treace Medical Concepts, Inc. (NASDAQ: TMCI) reported Q1 EPS of ($0.30), $0.03 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $51.1 million versus the consensus estimate of $49.07 million.

GUIDANCE:

Treace Medical Concepts, Inc. lowers guidance range for full-year 2024, expecting... More