Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Purchases 4,508 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 4,508 shares of Treace Medical Concepts stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $2.79 per share, for a total transaction of $12,577.32. Following the transaction, the chief executive officer owned 7,162,821 shares in the company, valued at approximately $19,984,270.59. This trade represents a 0.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Treace Medical Concepts Stock Up 6.2%

TMCI stock opened at $3.08 on Friday. The firm has a market cap of $199.80 million, a PE ratio of -3.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The firm’s 50 day moving average price is $1.94 and its 200-day moving average price is $2.24. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last released 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 firm had revenue of $47.20 million for the quarter, compared to analyst estimates of $45.96 million. On average, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently modified their holdings of TMCI. Graham Capital Management L.P. acquired a new position in shares of Treace Medical Concepts in the fourth quarter worth $27,000. Osaic Holdings Inc. raised its position in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after purchasing an additional 3,674 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts in the 4th quarter valued at about $33,000. Chicago Partners Investment Group LLC boosted its stake in shares of Treace Medical Concepts by 34.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after buying an additional 6,606 shares during the period. Finally, Balance Wealth LLC purchased a new position in shares of Treace Medical Concepts in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TMCI. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Lake Street Capital lowered their price target on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen upgraded 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average 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.