John Treace Acquires 5,000 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was purchased at an average cost of $4.35 per share, with a total value of $21,750.00. Following the purchase, the chief executive officer owned 7,393,383 shares in the company, valued at approximately $32,161,216.05. This trade represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Treace Medical Concepts Stock Up 10.1%

Shares of NASDAQ TMCI opened at $4.81 on Wednesday. The company has a market capitalization of $312.84 million, a P/E ratio of -5.17 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95. The company has a 50 day simple moving average of $4.38 and a 200-day simple moving average of $2.93. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.65.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. On average, equities research analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TMCI. Truist Financial increased their price target on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings cut shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. 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 company. According to data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Reduce” and an average target price of $5.17.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Treace Medical Concepts in the 2nd quarter valued at about $13,154,000. BlackRock Inc. acquired a new stake in shares of Treace Medical Concepts during the second quarter worth about $5,492,000. Gagnon Securities LLC lifted its position in shares of Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after purchasing an additional 852,337 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in shares of Treace Medical Concepts in the fourth quarter valued at approximately $1,445,000. Finally, Gagnon Advisors LLC grew its holdings in shares of Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after purchasing an additional 565,570 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

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.