John Treace Acquires 61,750 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 61,750 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $2.62 per share, with a total value of $161,785.00. Following the transaction, the chief executive officer directly owned 7,158,313 shares in the company, valued at approximately $18,754,780.06. The trade was a 0.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $2.66 on Friday. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78. The stock has a fifty day moving average of $1.69 and a 200-day moving average of $2.49. The company has a market capitalization of $172.55 million, a PE ratio of -2.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.13 and a current ratio of 3.58.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. As a group, equities 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

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of Treace Medical Concepts by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after acquiring an additional 3,677 shares during the last quarter. Barclays PLC increased its stake in shares of Treace Medical Concepts by 7.4% in the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after acquiring an additional 6,077 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Treace Medical Concepts by 26.8% in the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Lake Street Capital cut their price objective on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price 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.