John Treace Purchases 61,202 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 61,202 shares of the stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $3.02 per share, with a total value of $184,830.04. Following the transaction, the chief executive officer directly owned 7,273,833 shares of the company’s stock, valued at approximately $21,966,975.66. This trade represents a 0.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Treace Medical Concepts Price Performance

TMCI opened at $3.46 on Friday. The stock has a 50-day moving average price of $1.98 and a 200-day moving average price of $2.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The firm has a market cap of $224.45 million, a PE ratio of -3.57 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.

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

Analyst Upgrades and Downgrades

TMCI has been the subject of a number of analyst reports. Lake Street Capital reduced their price objective 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. 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. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of “Reduce” and a consensus target price of $4.77.

Institutional Trading of Treace Medical Concepts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after buying an additional 2,362 shares in the last quarter. Osaic Holdings Inc. grew its holdings 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 during the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after purchasing an additional 3,677 shares during the last quarter. Barclays PLC grew its holdings in shares of Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock valued at $215,000 after purchasing an additional 6,077 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Treace Medical Concepts by 26.8% during the first 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. Hedge funds and other 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.