Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires $161,785.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 61,750 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $2.62 per share, for a total transaction of $161,785.00. Following the acquisition, the chief executive officer owned 7,158,313 shares of the company’s stock, valued at $18,754,780.06. This represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Treace Medical Concepts Trading Down 4.0%

Treace Medical Concepts stock opened at $2.66 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.13 and a current ratio of 3.58. The firm has a market cap of $172.55 million, a price-to-earnings ratio of -2.74 and a beta of 1.10. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.78. The firm’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $2.49.

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

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMCI. Graham Capital Management L.P. purchased a new position in Treace Medical Concepts during the 4th quarter worth approximately $27,000. Osaic Holdings Inc. grew 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 purchasing an additional 3,674 shares in the last quarter. HighTower Advisors LLC purchased a new position in Treace Medical Concepts during the 4th quarter worth approximately $33,000. Chicago Partners Investment Group LLC grew its position in Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after purchasing an additional 6,606 shares in the last quarter. Finally, Balance Wealth LLC purchased a new position in Treace Medical Concepts during the 4th quarter worth approximately $37,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMCI has been the topic of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Lake Street Capital decreased 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 research 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 research 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 company’s stock. According to data from MarketBeat.com, Treace Medical Concepts presently has a consensus rating of “Reduce” and a consensus target price of $4.77.

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.