Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Buys 43,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 43,000 shares of Treace Medical Concepts stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $2.17 per share, with a total value of $93,310.00. Following the transaction, the chief executive officer directly owned 7,047,550 shares in the company, valued at $15,293,183.50. This trade represents a 0.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Treace Medical Concepts Stock Performance

Shares of TMCI traded up $0.24 during trading hours on Thursday, reaching $2.77. 1,185,002 shares of the company’s stock traded hands, compared to its average volume of 781,841. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.78. The business’s fifty day simple moving average is $1.64 and its two-hundred day simple moving average is $2.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 3.13. The firm has a market capitalization of $179.69 million, a price-to-earnings ratio of -2.86 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. Analysts predict that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TMCI has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Finally, Lake Street Capital lowered their price target on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $4.77.

Hedge Funds Weigh In On Treace Medical Concepts

Several large investors have recently made changes to their positions in TMCI. CIBC Bancorp USA Inc. acquired a new position in shares of Treace Medical Concepts in the 3rd quarter worth approximately $122,199,000. Gagnon Securities LLC lifted its stake in Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after purchasing an additional 852,337 shares during the last quarter. Weber Capital Management LLC ADV bought a new stake in Treace Medical Concepts during the fourth quarter worth approximately $1,445,000. Gagnon Advisors LLC boosted its holdings in Treace Medical Concepts by 58.4% during the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after buying an additional 565,570 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after buying an additional 534,486 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

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.