Insider Buying: Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO Buys $264,600.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) CEO John T. Treace purchased 45,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $5.88 per share, with a total value of $264,600.00. Following the completion of the purchase, the chief executive officer now directly owns 6,388,095 shares in the company, valued at $37,561,998.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Treace Medical Concepts Trading Down 1.2 %

Shares of NASDAQ TMCI opened at $6.00 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.98 and a quick ratio of 3.22. The business’s 50-day simple moving average is $8.22 and its 200-day simple moving average is $11.01. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $26.56.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, meeting analysts’ consensus estimates of ($0.30). The business had revenue of $51.11 million for the quarter, compared to analyst estimates of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) EPS. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in Treace Medical Concepts by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 4,093 shares of the company’s stock valued at $54,000 after buying an additional 1,340 shares during the last quarter. Gabelli Funds LLC grew its holdings in Treace Medical Concepts by 1.5% in the 4th quarter. Gabelli Funds LLC now owns 143,359 shares of the company’s stock valued at $1,828,000 after buying an additional 2,107 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after buying an additional 3,567 shares during the last quarter. Quest Partners LLC acquired a new stake in Treace Medical Concepts in the 4th quarter valued at approximately $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Treace Medical Concepts by 78.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,524 shares of the company’s stock valued at $185,000 after buying an additional 6,363 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TMCI has been the subject of a number of recent research reports. Morgan Stanley downgraded Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $5.50 in a research note on Wednesday, May 8th. UBS Group downgraded Treace Medical Concepts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $6.50 in a research note on Thursday, May 16th. BTIG Research downgraded Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Truist Financial downgraded Treace Medical Concepts from a “buy” rating to a “hold” rating and cut their price target for the stock from $17.00 to $7.00 in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $8.00 in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.21.

Get Our Latest Stock Analysis on TMCI

Treace Medical Concepts Company Profile

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Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.

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