John Treace Purchases 11,000 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 11,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the chief executive officer directly owned 7,404,383 shares of the company’s stock, valued at approximately $32,135,022.22. This represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Treace Medical Concepts Price Performance

Shares of TMCI traded up $0.03 during mid-day trading on Monday, reaching $4.37. The company had a trading volume of 330,428 shares, compared to its average volume of 741,496. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95. The company’s 50-day moving average is $4.35 and its 200-day moving average is $2.89. The company has a market capitalization of $284.20 million, a P/E ratio of -4.70 and a beta of 1.37.

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

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Treace Medical Concepts by 18.6% in the 2nd quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after purchasing an additional 2,362 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the period. Parkman Healthcare Partners LLC increased its stake 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 valued at $5,688,000 after acquiring an additional 3,677 shares in the last quarter. Barclays PLC increased its holdings in shares of Treace Medical Concepts by 7.4% during the fourth quarter. Barclays PLC now owns 87,664 shares of the company’s stock valued at $215,000 after acquiring an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Treace Medical Concepts by 26.8% during the first quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings cut shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Truist Financial boosted their target price on Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of “Reduce” and an average target price of $5.17.

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.