Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 11,000 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 11,000 shares of the stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $4.34 per share, with a total value of $47,740.00. Following the acquisition, the chief executive officer owned 7,404,383 shares in the company, valued at approximately $32,135,022.22. This represents a 0.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.37 on Tuesday. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The firm has a market capitalization of $284.22 million, a P/E ratio of -4.70 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95. The company’s fifty day moving average price is $4.36 and its 200 day moving average price is $2.91.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. The company had revenue of $45.38 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TMCI has been the topic of several research analyst reports. Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Truist Financial raised their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. 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 MarketBeat, Treace Medical Concepts has a consensus rating of “Reduce” and an average target price of $5.17.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently made changes to their positions in the business. Graham Capital Management L.P. acquired a new position in Treace Medical Concepts in the 4th quarter valued at about $27,000. Osaic Holdings Inc. lifted its position in Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the period. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts during the 4th quarter worth approximately $33,000. Chicago Partners Investment Group LLC grew 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 purchasing an additional 6,606 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of 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 purchasing an additional 6,554 shares during the last quarter. Institutional investors and hedge funds 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.