Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO Buys $265,500.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John T. Treace purchased 50,000 shares of the stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $5.31 per share, with a total value of $265,500.00. Following the completion of the acquisition, the chief executive officer now owns 6,523,095 shares of the company’s stock, valued at $34,637,634.45. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Treace Medical Concepts Stock Up 2.2 %

Shares of NASDAQ:TMCI opened at $5.60 on Friday. The company’s fifty day moving average is $6.51 and its two-hundred day moving average is $8.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98. The stock has a market capitalization of $348.26 million, a price-to-earnings ratio of -6.34 and a beta of 0.21.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Truist Financial decreased their target price on shares of Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.30.

Institutional Trading of Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after buying an additional 4,508 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 valued at $62,000 after acquiring an additional 9,245 shares during the period. CWM LLC grew its position in shares of Treace Medical Concepts by 208.7% during the second quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after acquiring an additional 6,826 shares during the last quarter. Quest Partners LLC bought a new position in shares of Treace Medical Concepts during the fourth quarter worth about $68,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after acquiring an additional 3,567 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.