Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires $118,308.60 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 29,430 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was bought at an average price of $4.02 per share, with a total value of $118,308.60. Following the completion of the acquisition, the chief executive officer owned 7,353,263 shares in the company, valued at $29,560,117.26. This represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Stock Up 3.8%

Shares of NASDAQ:TMCI opened at $4.06 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $2.47 and a two-hundred day moving average of $2.30. The stock has a market cap of $263.37 million, a P/E ratio of -4.19 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.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. The company had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. On average, research analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new position in shares of Treace Medical Concepts in the 3rd quarter valued at $122,199,000. Weber Capital Management LLC ADV acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $1,445,000. William Blair Investment Management LLC lifted its stake in shares of 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 valued at $24,387,000 after purchasing an additional 534,486 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Treace Medical Concepts by 36.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock worth $8,313,000 after acquiring an additional 330,866 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Treace Medical Concepts by 212.5% during the 4th quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock worth $852,000 after acquiring an additional 236,477 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Lake Street Capital dropped their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Wall Street Zen raised Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target 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.