Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires 49,013 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 49,013 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $2.46 per share, with a total value of $120,571.98. Following the completion of the purchase, the chief executive officer owned 7,096,563 shares of the company’s stock, valued at $17,457,544.98. This represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Treace Medical Concepts Stock Up 9.5%

TMCI traded up $0.24 on Thursday, hitting $2.77. The company had a trading volume of 1,185,002 shares, compared to its average volume of 781,841. The stock has a fifty day simple moving average of $1.64 and a 200-day simple moving average of $2.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 3.13. The firm has a market capitalization of $179.69 million, a P/E ratio of -2.86 and a beta of 1.10. Treace Medical Concepts, Inc. has a 52-week low of $1.17 and a 52-week high of $7.78.

Treace Medical Concepts (NASDAQ:TMCI) last posted its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $47.20 million for 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%. As a group, equities analysts expect that Treace Medical Concepts, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares during the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Treace Medical Concepts by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock worth $5,688,000 after purchasing an additional 3,677 shares during the last quarter. Barclays PLC boosted its stake in Treace Medical Concepts by 7.4% in the 4th quarter. Barclays PLC now owns 87,664 shares of the company’s stock worth $215,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Treace Medical Concepts by 26.8% in the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after purchasing an additional 6,554 shares in the last quarter. 84.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on TMCI shares. Wall Street Zen raised Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Lake Street Capital decreased their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus 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.