Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires 5,000 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 5,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $4.35 per share, for a total transaction of $21,750.00. Following the completion of the transaction, the chief executive officer directly owned 7,393,383 shares of the company’s stock, valued at approximately $32,161,216.05. This represents a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Treace Medical Concepts Stock Performance

Shares of TMCI traded up $0.03 during midday trading on Monday, reaching $4.37. The stock had a trading volume of 330,428 shares, compared to its average volume of 741,496. The firm has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $2.89. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78. The firm has a market cap of $284.20 million, a PE ratio of -4.70 and a beta of 1.37. The company has a current ratio of 2.90, a quick ratio of 1.95 and a debt-to-equity ratio of 0.83.

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

Analyst Ratings Changes

A number of research firms recently weighed in 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 upgraded 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 price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Treace Medical Concepts has an average rating of “Reduce” and an average target price of $5.17.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Treace Medical Concepts in the first quarter valued at approximately $491,000. Millennium Management LLC raised its holdings 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 shares of Treace Medical Concepts by 133,241.9% during 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 during the period. Invesco Ltd. lifted its position in shares of Treace Medical Concepts by 18.6% during 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 during the period. Finally, Marshall Wace LLP grew its holdings in shares of Treace Medical Concepts by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 135,877 shares of the company’s stock worth $799,000 after purchasing an additional 97,729 shares in the last quarter. 84.08% of the stock is owned by institutional investors.

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.