Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $142,954.70 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 49,810 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of $2.87 per share, for a total transaction of $142,954.70. Following the completion of the acquisition, the chief executive officer owned 7,212,631 shares in the company, valued at $20,700,250.97. This represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Treace Medical Concepts Stock Up 12.3%

NASDAQ:TMCI opened at $3.46 on Friday. Treace Medical Concepts, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The stock has a market capitalization of $224.45 million, a P/E ratio of -3.57 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 company’s 50-day simple moving average is $1.98 and its 200-day simple moving average is $2.25.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. On average, equities analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TMCI. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report 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 on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Treace Medical Concepts currently has a consensus rating of “Reduce” and an average target price of $4.77.

Institutional Trading of Treace Medical Concepts

A number of institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. acquired a new stake in Treace Medical Concepts in the 3rd quarter worth approximately $122,199,000. Armistice Capital LLC boosted its stake in Treace Medical Concepts by 0.8% in the 4th quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock worth $15,592,000 after purchasing an additional 48,000 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Treace Medical Concepts by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after purchasing an additional 534,486 shares in the last quarter. Bank of America Corp DE boosted its stake in Treace Medical Concepts by 38.9% in the 1st quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock worth $4,307,000 after purchasing an additional 900,071 shares in the last quarter. Finally, Gagnon Securities LLC boosted its stake in Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after purchasing an additional 852,337 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.