John Treace Buys 29,430 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) CEO John Treace bought 29,430 shares of the stock in a transaction on Wednesday, June 10th. The shares were bought at an average price of $4.02 per share, for a total transaction of $118,308.60. Following the acquisition, the chief executive officer owned 7,353,263 shares in the company, valued at $29,560,117.26. The trade was a 0.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.06 on Friday. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78. The business’s fifty day moving average price is $2.47 and its two-hundred day moving average price is $2.30. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The stock has a market cap of $263.37 million, a PE ratio of -4.19 and a beta of 1.40.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (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 business had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMCI. CIBC Bancorp USA Inc. acquired a new position in Treace Medical Concepts in the third quarter valued at $122,199,000. Bank of America Corp DE boosted its holdings in Treace Medical Concepts by 38.9% in the first quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock valued at $4,307,000 after acquiring an additional 900,071 shares during the last quarter. Gagnon Securities LLC boosted its holdings in Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after acquiring an additional 852,337 shares during the last quarter. Weber Capital Management LLC ADV acquired a new position in Treace Medical Concepts in the fourth quarter valued at $1,445,000. Finally, Gagnon Advisors LLC boosted its holdings in Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after acquiring an additional 565,570 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TMCI shares. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital decreased their price objective on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. 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 stock. According to MarketBeat, Treace Medical Concepts presently has a consensus rating of “Reduce” and an average price target of $4.77.

View Our Latest Stock Analysis on TMCI

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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Insider Buying and Selling by Quarter for Treace Medical Concepts (NASDAQ:TMCI)

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