Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $92,463.48 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) CEO John Treace purchased 22,887 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $92,463.48. Following the completion of the transaction, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at $29,799,646. This represents a 0.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Treace Medical Concepts Price Performance

Shares of Treace Medical Concepts stock opened at $4.06 on Friday. The company’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $2.30. 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, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCIGet 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%. As a group, sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in Treace Medical Concepts by 38.9% during the 1st 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 in the last quarter. Renaissance Technologies LLC purchased a new position in Treace Medical Concepts during the 1st quarter valued at about $701,000. Sei Investments Co. purchased a new position in Treace Medical Concepts during the 1st quarter valued at about $81,000. State of Wyoming grew its stake in Treace Medical Concepts by 316.8% during the 1st quarter. State of Wyoming now owns 95,110 shares of the company’s stock valued at $127,000 after acquiring an additional 72,290 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after acquiring an additional 6,606 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TMCI. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Wall Street Zen raised Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Finally, Lake Street Capital dropped their price target on 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. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.77.

Check Out Our Latest Report on Treace Medical Concepts

About Treace Medical Concepts

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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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