John Treace Acquires 49,013 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 49,013 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $2.46 per share, with a total value of $120,571.98. Following the completion of the acquisition, the chief executive officer owned 7,096,563 shares in the company, valued at $17,457,544.98. The trade was a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Treace Medical Concepts Stock Up 9.5%

TMCI stock traded up $0.24 during midday trading on Thursday, hitting $2.77. The company’s stock had a trading volume of 1,185,002 shares, compared to its average volume of 781,841. The firm’s 50-day moving average is $1.64 and its 200-day moving average is $2.52. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a market cap of $179.69 million, a PE ratio of -2.86 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. On average, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TMCI. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Lake Street Capital decreased their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Treace Medical Concepts currently has an average rating of “Reduce” and a consensus price target of $4.77.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Treace Medical Concepts in the 2nd quarter worth approximately $62,000. Graham Capital Management L.P. bought a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $27,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Treace Medical Concepts in the third quarter worth approximately $87,000. Finally, HighTower Advisors LLC bought a new stake in Treace Medical Concepts during the fourth quarter valued at approximately $33,000. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

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.