Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Buys 43,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 43,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $2.17 per share, with a total value of $93,310.00. Following the transaction, the chief executive officer directly owned 7,047,550 shares of the company’s stock, valued at $15,293,183.50. This represents a 0.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Treace Medical Concepts Trading Up 9.5%

NASDAQ:TMCI opened at $2.77 on Friday. The stock has a fifty day moving average price of $1.67 and a two-hundred day moving average price of $2.49. The stock has a market capitalization of $179.70 million, a price-to-earnings ratio of -2.86 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, Inc. has a 1 year low of $1.17 and a 1 year high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm 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%. As a group, sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TMCI shares. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Finally, Lake Street Capital dropped their price target 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. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Treace Medical Concepts currently has a consensus rating of “Reduce” and an average price target of $4.77.

Institutional Trading of Treace Medical Concepts

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