Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Buys 22,887 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 22,887 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $4.04 per share, with a total value of $92,463.48. Following the acquisition, the chief executive officer directly owned 7,376,150 shares in the company, valued at approximately $29,799,646. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Treace Medical Concepts Price Performance

Shares of TMCI traded down $0.32 during trading hours on Thursday, reaching $3.91. The company had a trading volume of 1,295,894 shares, compared to its average volume of 758,483. The firm has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $2.28. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $253.64 million, a price-to-earnings ratio of -4.03 and a beta of 1.40. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.78.

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 analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. Research analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Institutional Trading of Treace Medical Concepts

A number of hedge funds have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new stake in Treace Medical Concepts during the third quarter valued at $122,199,000. Weber Capital Management LLC ADV bought a new stake in Treace Medical Concepts during the fourth quarter valued at $1,445,000. William Blair Investment Management LLC increased its stake in Treace Medical Concepts by 17.2% during the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after purchasing an additional 534,486 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Treace Medical Concepts by 36.4% during the third quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock valued at $8,313,000 after purchasing an additional 330,866 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in Treace Medical Concepts by 212.5% during the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock valued at $852,000 after purchasing an additional 236,477 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TMCI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Lake Street Capital lowered their price target 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, Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. One equities 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 stock. According to MarketBeat.com, the company currently 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.