Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Buys 22,887 Shares

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

Treace Medical Concepts Trading Down 7.6%

NASDAQ TMCI opened at $3.91 on Friday. The company has a market cap of $253.64 million, a price-to-earnings ratio of -4.03 and a beta of 1.40. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The business has a 50 day moving average price of $2.42 and a 200-day moving average price of $2.29. 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 released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. As a group, equities analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after buying an additional 2,362 shares during the period. Osaic Holdings Inc. raised its stake in shares of Treace Medical Concepts by 328.3% during 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 during the period. Parkman Healthcare Partners LLC raised its stake in shares of Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after purchasing an additional 3,677 shares during the period. Barclays PLC raised its stake in shares of Treace Medical Concepts by 7.4% during the 4th quarter. Barclays PLC now owns 87,664 shares of the company’s stock valued at $215,000 after purchasing an additional 6,077 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock valued at $40,000 after purchasing an additional 6,554 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TMCI has been the topic of several analyst reports. Lake Street Capital cut their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Treace Medical Concepts has a consensus 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.