John Treace Purchases 43,000 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 43,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $2.17 per share, with a total value of $93,310.00. Following the purchase, the chief executive officer directly owned 7,047,550 shares in the company, valued at approximately $15,293,183.50. The trade was a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Trading Down 4.0%

NASDAQ:TMCI opened at $2.66 on Friday. The company has a market capitalization of $172.55 million, a PE ratio of -2.74 and a beta of 1.10. The company has a quick ratio of 3.13, 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 fifty day simple moving average of $1.69 and a 200-day simple moving average of $2.49.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results 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 business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. On average, equities research analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TMCI. 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 reiterated 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 objective 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 investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price 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 the stock. Invesco Ltd. grew its holdings in 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 buying an additional 2,362 shares during the period. Osaic Holdings Inc. grew its holdings in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the period. Parkman Healthcare Partners LLC grew its holdings in Treace Medical Concepts by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after buying an additional 3,677 shares during the period. Barclays PLC grew its holdings in Treace Medical Concepts by 7.4% in the 4th quarter. Barclays PLC now owns 87,664 shares of the company’s stock valued at $215,000 after buying an additional 6,077 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Treace Medical Concepts by 26.8% in the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock valued at $40,000 after buying an additional 6,554 shares during the period. Hedge funds and other institutional investors 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.