John Treace Purchases 49,013 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 49,013 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $2.46 per share, with a total value of $120,571.98. Following the completion of the purchase, the chief executive officer owned 7,096,563 shares of the company’s stock, valued at approximately $17,457,544.98. The trade was a 0.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Treace Medical Concepts Stock Performance

Shares of NASDAQ:TMCI opened at $2.66 on Friday. The company has a market cap of $172.55 million, a price-to-earnings ratio of -2.74 and a beta of 1.10. The company has a 50-day moving average price of $1.69 and a 200-day moving average price of $2.49. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TMCI shares. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Lake Street Capital lowered their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Treace Medical Concepts has a consensus rating of “Reduce” and a consensus target price of $4.77.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors have recently bought and sold shares of TMCI. Graham Capital Management L.P. bought a new position in Treace Medical Concepts in the fourth quarter worth about $27,000. Osaic Holdings Inc. raised its stake in 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 buying an additional 3,674 shares in the last quarter. HighTower Advisors LLC bought a new position in Treace Medical Concepts in the fourth quarter worth about $33,000. Chicago Partners Investment Group LLC raised its stake in Treace Medical Concepts by 34.0% in the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after buying an additional 6,606 shares in the last quarter. Finally, Balance Wealth LLC bought a new position in Treace Medical Concepts in the fourth quarter worth about $37,000. 84.08% of the stock is owned by institutional investors.

About Treace Medical Concepts

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.