Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $177,351.36 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 39,944 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $177,351.36. Following the completion of the acquisition, the chief executive officer owned 7,388,383 shares of the company’s stock, valued at $32,804,420.52. This trade represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Treace Medical Concepts Trading Down 1.9%

Shares of NASDAQ:TMCI opened at $4.72 on Thursday. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.63. The company has a market capitalization of $306.99 million, a PE ratio of -5.08 and a beta of 1.37. The business has a 50 day moving average of $4.39 and a two-hundred day moving average of $2.95. The company has a current ratio of 2.90, a quick ratio of 1.95 and a debt-to-equity ratio of 0.83.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. The business had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. As a group, analysts forecast that Treace Medical Concepts, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on TMCI shares. Weiss Ratings downgraded shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Truist Financial upped their price target on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.17.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. purchased a new position in Treace Medical Concepts during the fourth quarter valued at $27,000. Osaic Holdings Inc. increased its stake in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Treace Medical Concepts during the 4th quarter worth about $33,000. Chicago Partners Investment Group LLC raised its position in shares of Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after purchasing an additional 6,606 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Treace Medical Concepts by 26.8% in the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock valued at $40,000 after buying an additional 6,554 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.