Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) released its earnings results on Tuesday. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.05), Briefing.com reports. The firm had revenue of $44.46 million during the quarter, compared to analyst estimates of $43.00 million. Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) earnings per share. Treace Medical Concepts updated its FY 2024 guidance to EPS.
Treace Medical Concepts Price Performance
NASDAQ:TMCI traded down $0.06 during trading hours on Wednesday, hitting $6.60. The company’s stock had a trading volume of 2,459,406 shares, compared to its average volume of 918,034. The business’s 50-day moving average is $6.71 and its two-hundred day moving average is $9.89. The company has a market capitalization of $409.25 million, a PE ratio of -7.35 and a beta of 0.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98. Treace Medical Concepts has a 52-week low of $3.92 and a 52-week high of $20.77.
Insiders Place Their Bets
In other news, Director Richard W. Mott bought 36,802 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $4.38 per share, with a total value of $161,192.76. Following the completion of the acquisition, the director now owns 1,027,753 shares of the company’s stock, valued at $4,501,558.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Treace Medical Concepts news, CEO John T. Treace purchased 150,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $4.58 per share, with a total value of $687,000.00. Following the purchase, the chief executive officer now owns 5,943,095 shares in the company, valued at $27,219,375.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Mott acquired 36,802 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the acquisition, the director now owns 1,027,753 shares in the company, valued at $4,501,558.14. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 593,902 shares of company stock worth $2,930,422. 24.43% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Get Our Latest Analysis on Treace Medical Concepts
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.
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