John T. Treace Acquires 50,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John T. Treace bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the purchase, the chief executive officer now owns 6,523,095 shares in the company, valued at $34,637,634.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Treace Medical Concepts Stock Up 4.0 %

Shares of NASDAQ:TMCI traded up $0.20 on Tuesday, hitting $5.21. 732,490 shares of the company’s stock were exchanged, compared to its average volume of 873,527. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98. The company has a market capitalization of $323.06 million, a PE ratio of -5.69 and a beta of 0.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. The firm’s 50-day moving average is $6.58 and its 200 day moving average is $8.18.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The company had revenue of $44.46 million during the quarter, compared to analysts’ expectations of $43.00 million. Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) earnings per share. Sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TMCI. Truist Financial cut their price objective on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. UBS Group increased their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley boosted their price objective on Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.30.

Institutional Investors Weigh In On Treace Medical Concepts

A number of institutional investors and hedge funds have recently bought and sold shares of TMCI. GAMMA Investing LLC grew its holdings in shares of Treace Medical Concepts by 3,441.2% during the second quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares during the period. CWM LLC lifted its stake in Treace Medical Concepts by 208.7% in the second quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after buying an additional 6,826 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $68,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Treace Medical Concepts by 100.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after acquiring an additional 3,567 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.