Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Buys $47,740.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 11,000 shares of Treace Medical Concepts stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $47,740.00. Following the transaction, the chief executive officer directly owned 7,404,383 shares of the company’s stock, valued at approximately $32,135,022.22. The trade was a 0.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Treace Medical Concepts Stock Down 1.9%

Shares of Treace Medical Concepts stock opened at $4.72 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The firm has a market cap of $306.99 million, a P/E ratio of -5.08 and a beta of 1.37. Treace Medical Concepts, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $7.63. The business has a 50-day moving average price of $4.39 and a 200 day moving average price of $2.95.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%.The firm had revenue of $45.38 million for the quarter, compared to analysts’ expectations of $44.02 million. On average, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in shares of Treace Medical Concepts in the 4th quarter worth approximately $27,000. Osaic Holdings Inc. boosted its position in Treace Medical Concepts by 328.3% during 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 period. HighTower Advisors LLC bought a new position in Treace Medical Concepts during the 4th quarter worth $33,000. Chicago Partners Investment Group LLC grew 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 buying an additional 6,606 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Treace Medical Concepts by 26.8% in the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after buying an additional 6,554 shares during the period. 84.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TMCI. Weiss Ratings cut Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Truist Financial increased their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $5.17.

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.