Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) CEO John Treace bought 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $2.17 per share, for a total transaction of $93,310.00. Following the completion of the acquisition, the chief executive officer directly owned 7,047,550 shares in the company, valued at approximately $15,293,183.50. The trade was a 0.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Treace Medical Concepts Trading Up 9.5%
Shares of NASDAQ TMCI traded up $0.24 during mid-day trading on Thursday, hitting $2.77. 1,185,002 shares of the company traded hands, compared to its average volume of 781,841. The company has a quick ratio of 3.13, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.78. The stock has a market capitalization of $179.69 million, a price-to-earnings ratio of -2.86 and a beta of 1.10. The business has a 50 day moving average of $1.64 and a two-hundred day moving average of $2.52.
Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. On average, sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Treace Medical Concepts
Wall Street Analysts Forecast Growth
Several brokerages recently commented on TMCI. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Lake Street Capital cut their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. One 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 data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.77.
Check Out Our Latest Report on Treace Medical Concepts
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.
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