Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires 22,887 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 22,887 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $4.04 per share, with a total value of $92,463.48. Following the acquisition, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at approximately $29,799,646. The trade was a 0.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Treace Medical Concepts Stock Performance

Shares of NASDAQ TMCI traded down $0.32 during midday trading on Thursday, reaching $3.91. The company had a trading volume of 1,295,894 shares, compared to its average volume of 758,483. The business’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $2.28. The stock has a market cap of $253.64 million, a P/E ratio of -4.03 and a beta of 1.40. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI) last issued its 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. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

TMCI has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Finally, Lake Street Capital reduced their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. One investment 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. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $4.77.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Graham Capital Management L.P. acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $27,000. Osaic Holdings Inc. raised its position 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 purchasing an additional 3,674 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Treace Medical Concepts in the 4th quarter valued at $33,000. Chicago Partners Investment Group LLC raised its position 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 buying an additional 6,606 shares during the last quarter. Finally, Balance Wealth LLC purchased a new position in Treace Medical Concepts during the 4th quarter worth $37,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

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.