John Treace Purchases 4,508 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 4,508 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $2.79 per share, for a total transaction of $12,577.32. Following the completion of the acquisition, the chief executive officer owned 7,162,821 shares of the company’s stock, valued at approximately $19,984,270.59. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Treace Medical Concepts Price Performance

NASDAQ TMCI opened at $3.46 on Friday. Treace Medical Concepts, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The stock’s 50-day moving average is $1.98 and its two-hundred day moving average is $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 P/E ratio of -3.57 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last posted its 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 return on equity of 67.04% and a negative net margin of 29.44%.The company had revenue of $47.20 million for the quarter, compared to analyst estimates of $45.96 million. On average, analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after buying an additional 3,674 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Treace Medical Concepts during the second quarter worth about $62,000. Graham Capital Management L.P. acquired a new stake in Treace Medical Concepts during the fourth quarter worth about $27,000. Mercer Global Advisors Inc. ADV acquired a new stake in Treace Medical Concepts during the third quarter worth about $87,000. Finally, HighTower Advisors LLC acquired a new stake in Treace Medical Concepts during the fourth quarter worth about $33,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TMCI. Wall Street Zen raised Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report 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 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’s stock. According to data from MarketBeat.com, the stock presently has an average 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.