Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 5,000 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) CEO John Treace bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $4.35 per share, with a total value of $21,750.00. Following the transaction, the chief executive officer directly owned 7,393,383 shares in the company, valued at $32,161,216.05. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Treace Medical Concepts Price Performance

Shares of TMCI stock opened at $4.37 on Tuesday. The stock’s fifty day simple moving average is $4.36 and its 200 day simple moving average is $2.91. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78. The firm has a market cap of $284.22 million, a price-to-earnings ratio of -4.70 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. The firm had revenue of $45.38 million during the quarter, compared to analyst estimates of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. On average, analysts expect that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new position in shares of Treace Medical Concepts in the second quarter worth about $47,000. Hsbc Holdings PLC lifted its position in shares of Treace Medical Concepts by 74.8% during the second quarter. Hsbc Holdings PLC now owns 54,170 shares of the company’s stock worth $213,000 after purchasing an additional 23,176 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Treace Medical Concepts during the second quarter valued at approximately $106,000. Bank of America Corp DE acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $13,154,000. Finally, Weber Capital Management LLC ADV acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $2,346,676,000. Institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

TMCI has been the subject of several analyst reports. Weiss Ratings downgraded shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Truist Financial upped their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $5.17.

View Our Latest Stock Analysis on Treace Medical Concepts

Treace Medical Concepts Company Profile

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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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