Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Buys $178,000.00 in Stock

by · The Markets Daily

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) CEO John Treace bought 50,000 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $3.56 per share, with a total value of $178,000.00. Following the acquisition, the chief executive officer owned 7,323,833 shares in the company, valued at approximately $26,072,845.48. This represents a 0.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Treace Medical Concepts Stock Up 4.0%

Shares of NASDAQ:TMCI traded up $0.14 during mid-day trading on Monday, reaching $3.60. 799,804 shares of the stock were exchanged, compared to its average volume of 765,072. The company has a market cap of $233.53 million, a P/E ratio of -3.71 and a beta of 1.39. The stock’s 50 day simple moving average is $1.98 and its 200-day simple moving average is $2.24. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78.

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

Institutional Investors Weigh In On Treace Medical Concepts

Several institutional investors have recently made changes to their positions in TMCI. Graham Capital Management L.P. bought a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $27,000. Osaic Holdings Inc. raised its position in Treace Medical Concepts by 328.3% during the second 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 in the last quarter. HighTower Advisors LLC acquired a new position in Treace Medical Concepts during the fourth quarter valued at approximately $33,000. Chicago Partners Investment Group LLC raised its position in Treace Medical Concepts by 34.0% during the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after purchasing an additional 6,606 shares in the last quarter. Finally, Balance Wealth LLC acquired a new position in Treace Medical Concepts during the fourth quarter valued at approximately $37,000. 84.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TMCI shares. Lake Street Capital cut their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $4.77.

View Our Latest Stock Report on TMCI

Treace Medical Concepts Company Profile

(Get Free Report)

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.

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