John Treace Purchases 49,810 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 49,810 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $2.87 per share, with a total value of $142,954.70. Following the completion of the acquisition, the chief executive officer directly owned 7,212,631 shares in the company, valued at $20,700,250.97. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Treace Medical Concepts Trading Up 12.3%

Shares of TMCI stock opened at $3.46 on Friday. 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 capitalization of $224.45 million, a P/E ratio of -3.57 and a beta of 1.10. The firm has a 50-day moving average price of $1.98 and a 200 day moving average price of $2.25. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share (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 firm had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Research analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new position in shares of Treace Medical Concepts in the fourth quarter worth about $27,000. Osaic Holdings Inc. raised its stake in shares of 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 acquiring an additional 3,674 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter worth about $33,000. Chicago Partners Investment Group LLC raised its stake in shares of Treace Medical Concepts by 34.0% in the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after acquiring an additional 6,606 shares during the last quarter. Finally, Balance Wealth LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter worth about $37,000. 84.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Lake Street Capital dropped their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. One investment 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, Treace Medical Concepts has an average rating of “Reduce” and a consensus target price of $4.77.

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.