Treace Medical Concepts (NASDAQ:TMCI) CEO Purchases $118,308.60 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 29,430 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $4.02 per share, with a total value of $118,308.60. Following the completion of the purchase, the chief executive officer directly owned 7,353,263 shares in the company, valued at approximately $29,560,117.26. This represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI traded down $0.32 on Thursday, reaching $3.91. The company’s stock had a trading volume of 1,295,894 shares, compared to its average volume of 758,483. Treace Medical Concepts, Inc. has a 52-week low of $1.17 and a 52-week high of $7.78. The company has a market cap of $253.64 million, a P/E ratio of -4.03 and a beta of 1.40. The company has a 50-day simple moving average of $2.37 and a 200 day simple moving average of $2.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. As a group, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TMCI. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Lake Street Capital reduced their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.77.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TMCI. Graham Capital Management L.P. bought a new position in shares of Treace Medical Concepts during the 4th quarter worth approximately $27,000. Osaic Holdings Inc. grew its position in Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Treace Medical Concepts during the 4th quarter worth approximately $33,000. Chicago Partners Investment Group LLC grew its position 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 worth $35,000 after purchasing an additional 6,606 shares during the last quarter. Finally, Balance Wealth LLC purchased a new stake in Treace Medical Concepts during the 4th quarter worth approximately $37,000. Institutional investors own 84.08% of the company’s stock.

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.