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

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

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $5.21 on Wednesday. The stock has a market capitalization of $323.06 million, a P/E ratio of -5.92 and a beta of 0.21. The company’s fifty day moving average price is $6.55 and its 200 day moving average price is $8.12. 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.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (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 analyst estimates 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 firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) EPS. As a group, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley boosted their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Truist Financial dropped their target price 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. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.30.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Treace Medical Concepts in the second quarter worth approximately $2,247,000. Armistice Capital LLC acquired a new stake in Treace Medical Concepts during the 4th quarter worth $36,414,000. Quest Partners LLC purchased a new stake in shares of Treace Medical Concepts during the fourth quarter worth $68,000. Norges Bank acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $8,725,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Treace Medical Concepts by 34,240.7% in 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 in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Company Profile

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.