John Treace Purchases 11,000 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average cost of $4.34 per share, with a total value of $47,740.00. Following the transaction, the chief executive officer directly owned 7,404,383 shares of the company’s stock, valued at $32,135,022.22. The trade was a 0.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI opened at $4.81 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $312.84 million, a P/E ratio of -5.17 and a beta of 1.37. The firm’s 50 day moving average is $4.38 and its two-hundred day moving average is $2.93. Treace Medical Concepts, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $7.65.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. Analysts expect that Treace Medical Concepts, Inc. will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised 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 during the period. Captrust Financial Advisors purchased a new position in shares of Treace Medical Concepts in the second quarter valued at $62,000. Graham Capital Management L.P. acquired a new stake in Treace Medical Concepts during the 4th quarter valued at $27,000. Two Sigma Securities LLC acquired a new stake in Treace Medical Concepts during the 2nd quarter valued at $47,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Treace Medical Concepts during the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.17.

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.