Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 29,430 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 29,430 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $4.02 per share, with a total value of $118,308.60. Following the transaction, the chief executive officer directly owned 7,353,263 shares in the company, valued at $29,560,117.26. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Treace Medical Concepts Stock Performance

Shares of TMCI stock opened at $3.91 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78. The stock has a market capitalization of $253.64 million, a PE ratio of -4.03 and a beta of 1.40. The firm has a 50 day moving average of $2.42 and a two-hundred day moving average of $2.29.

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

Institutional Investors Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently modified their holdings of TMCI. Graham Capital Management L.P. acquired a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $27,000. Osaic Holdings Inc. raised its stake in Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts during the 4th quarter worth $33,000. Chicago Partners Investment Group LLC raised its stake in Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after acquiring an additional 6,606 shares in the last quarter. Finally, Balance Wealth LLC acquired a new stake in Treace Medical Concepts during the 4th quarter worth $37,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMCI. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Lake Street Capital reduced their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $4.77.

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.