Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires $118,308.60 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 29,430 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average price of $4.02 per share, for a total transaction of $118,308.60. Following the acquisition, the chief executive officer owned 7,353,263 shares of the company’s stock, valued at approximately $29,560,117.26. The trade was a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Treace Medical Concepts Stock Down 7.6%

Shares of NASDAQ:TMCI traded down $0.32 during trading on Thursday, reaching $3.91. 1,295,894 shares of the stock traded hands, compared to its average volume of 758,483. The stock has a 50-day moving average of $2.37 and a two-hundred day moving average of $2.28. Treace Medical Concepts, Inc. has a 52-week low of $1.17 and a 52-week high of $7.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The stock has a market cap of $253.64 million, a P/E ratio of -4.03 and a beta of 1.40.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. As a group, sell-side analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its holdings in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after acquiring an additional 3,674 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Treace Medical Concepts in the 2nd quarter worth $62,000. Graham Capital Management L.P. purchased a new position in shares of Treace Medical Concepts in the 4th quarter worth $27,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Treace Medical Concepts in the 3rd quarter worth $87,000. Finally, HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts in the 4th quarter worth $33,000. 84.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TMCI. Lake Street Capital cut their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Treace Medical Concepts presently has an average rating of “Reduce” and a consensus price target of $4.77.

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.