Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Buys 49,810 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 49,810 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $2.87 per share, for a total transaction of $142,954.70. Following the purchase, the chief executive officer directly owned 7,212,631 shares in the company, valued at $20,700,250.97. This trade represents a 0.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Treace Medical Concepts Trading Up 6.2%

TMCI stock opened at $3.08 on Friday. The firm’s 50-day moving average is $1.94 and its 200 day moving average is $2.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a market capitalization of $199.80 million, a PE ratio of -3.18 and a beta of 1.10.

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

Hedge Funds Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently modified their holdings of the business. Graham Capital Management L.P. bought a new position in shares of Treace Medical Concepts during the fourth quarter valued at approximately $27,000. Osaic Holdings Inc. boosted its stake in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after purchasing an additional 3,674 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts during the fourth quarter valued at approximately $33,000. Chicago Partners Investment Group LLC boosted its holdings 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 buying an additional 6,606 shares in the last quarter. Finally, Balance Wealth LLC bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at about $37,000. 84.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on TMCI shares. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Lake Street Capital decreased their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. One 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. Based on data from MarketBeat, Treace Medical Concepts presently has a consensus rating of “Reduce” and an average 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.