John Treace Buys 49,810 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 49,810 shares of the stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $2.87 per share, for a total transaction of $142,954.70. Following the transaction, the chief executive officer owned 7,212,631 shares of the company’s stock, valued at approximately $20,700,250.97. The trade was a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Treace Medical Concepts Stock Performance

NASDAQ TMCI traded up $0.18 during trading on Thursday, reaching $3.08. 442,680 shares of the company’s stock were exchanged, compared to its average volume of 764,288. The business has a 50 day moving average price of $1.91 and a 200-day moving average price of $2.25. The stock has a market capitalization of $199.80 million, a P/E ratio of -3.18 and a beta of 1.10. 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 fifty-two week low of $1.17 and a fifty-two week 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 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%. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital reduced 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. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Treace Medical Concepts has an average rating of “Reduce” and a consensus price target of $4.77.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new stake in shares of Treace Medical Concepts during the third quarter worth approximately $122,199,000. Armistice Capital LLC boosted its stake in shares of Treace Medical Concepts by 0.8% in the fourth quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock valued at $15,592,000 after buying an additional 48,000 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after buying an additional 534,486 shares during the period. Bank of America Corp DE boosted its stake in shares of Treace Medical Concepts by 38.9% in the first quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock valued at $4,307,000 after buying an additional 900,071 shares during the period. Finally, Gagnon Securities LLC boosted its stake in shares of Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after buying an additional 852,337 shares during the period. 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.