Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $184,830.04 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 61,202 shares of Treace Medical Concepts stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $3.02 per share, for a total transaction of $184,830.04. Following the completion of the acquisition, the chief executive officer directly owned 7,273,833 shares in the company, valued at $21,966,975.66. This trade represents a 0.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Treace Medical Concepts Trading Up 12.3%

TMCI opened at $3.46 on Friday. The stock’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.25. The company has a market capitalization of $224.45 million, a P/E ratio of -3.57 and a beta of 1.10. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The company had revenue of $47.20 million for the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. Analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMCI. AQR Capital Management LLC purchased a new position in Treace Medical Concepts during the 1st quarter worth $491,000. Millennium Management LLC grew its stake in Treace Medical Concepts by 35.3% during the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after buying an additional 116,114 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Treace Medical Concepts by 133,241.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company’s stock worth $243,000 after buying an additional 41,305 shares during the last quarter. Invesco Ltd. grew its stake in Treace Medical Concepts by 18.6% during the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Treace Medical Concepts by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock worth $799,000 after buying an additional 97,729 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Finally, Lake Street Capital cut their price target 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $4.77.

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.