John Treace Buys 49,810 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 49,810 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $2.87 per share, with a total value of $142,954.70. Following the completion of the purchase, the chief executive officer owned 7,212,631 shares of the company’s stock, valued at $20,700,250.97. This trade represents a 0.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Treace Medical Concepts Price Performance

Shares of TMCI stock traded up $0.18 during trading on Thursday, hitting $3.08. The company had a trading volume of 442,680 shares, compared to its average volume of 764,288. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The firm has a market capitalization of $199.80 million, a P/E ratio of -3.18 and a beta of 1.10. The stock’s 50-day moving average price is $1.91 and its 200 day moving average price is $2.25. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78.

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

Institutional Investors Weigh In On Treace Medical Concepts

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

Analysts Set New Price Targets

TMCI has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Lake Street Capital cut their target price on 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, Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus 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.