Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 50,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) CEO John Treace purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $3.56 per share, for a total transaction of $178,000.00. Following the completion of the purchase, the chief executive officer owned 7,323,833 shares of the company’s stock, valued at approximately $26,072,845.48. This represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Treace Medical Concepts Stock Up 4.0%

Treace Medical Concepts stock opened at $3.60 on Tuesday. 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 1-year low of $1.17 and a 1-year high of $7.78. The company has a market cap of $233.53 million, a PE ratio of -3.71 and a beta of 1.39. The stock’s 50 day moving average price is $2.03 and its 200 day moving average price is $2.24.

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Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $45.96 million. On average, sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TMCI. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Lake Street Capital decreased their target price 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $4.77.

Check Out Our Latest Stock Report on Treace Medical Concepts

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after purchasing an additional 2,362 shares during the last quarter. Osaic Holdings Inc. increased its stake 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 acquiring an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in Treace Medical Concepts by 0.4% during the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after acquiring an additional 3,677 shares during the last quarter. Barclays PLC increased its stake in Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after acquiring an additional 6,077 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Company Profile

(Get Free Report)

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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