Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $93,310.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 43,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $2.17 per share, for a total transaction of $93,310.00. Following the completion of the acquisition, the chief executive officer owned 7,047,550 shares in the company, valued at $15,293,183.50. This represents a 0.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Treace Medical Concepts Trading Down 4.0%

Treace Medical Concepts stock opened at $2.66 on Friday. The company’s fifty day simple moving average is $1.69 and its 200-day simple moving average is $2.49. The company has a quick ratio of 3.13, a current ratio of 3.58 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 stock has a market cap of $172.55 million, a P/E ratio of -2.74 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) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. As a group, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in Treace Medical Concepts during the first quarter valued at about $491,000. Millennium Management LLC boosted its holdings in Treace Medical Concepts by 35.3% during the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after acquiring an additional 116,114 shares during the period. Russell Investments Group Ltd. boosted its holdings in Treace Medical Concepts by 133,241.9% during the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock valued at $243,000 after acquiring an additional 41,305 shares during the period. Invesco Ltd. boosted its holdings in Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after acquiring an additional 2,362 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Treace Medical Concepts by 256.2% during the second quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock valued at $799,000 after acquiring an additional 97,729 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TMCI. Wall Street Zen upgraded 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 reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $4.77.

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.