Treace Medical Concepts (NASDAQ:TMCI) CEO Buys $178,000.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 50,000 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $3.56 per share, with a total value of $178,000.00. Following the completion of the transaction, the chief executive officer owned 7,323,833 shares of the company’s stock, valued at approximately $26,072,845.48. This represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Treace Medical Concepts Price Performance

TMCI traded up $0.14 during trading on Monday, hitting $3.60. 799,804 shares of the stock traded hands, compared to its average volume of 765,072. The business has a 50 day moving average price of $1.98 and a 200 day moving average price of $2.24. The company has a market cap of $233.53 million, a price-to-earnings ratio of -3.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last announced 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 company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. Equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently made changes to their positions in TMCI. AQR Capital Management LLC bought a new position in shares of Treace Medical Concepts during the 1st quarter worth about $491,000. Millennium Management LLC lifted its position in 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 in the last quarter. Russell Investments Group Ltd. lifted its position in 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 in the last quarter. Invesco Ltd. lifted its position 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 acquiring an additional 2,362 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in 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 in the last quarter. Institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TMCI shares. Lake Street Capital decreased their price objective on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target 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.