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

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John T. Treace acquired 50,000 shares of the 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 completion of the purchase, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Stock Up 5.2 %

Shares of NASDAQ:TMCI opened at $5.48 on Thursday. The business’s 50-day moving average is $6.51 and its 200 day moving average is $8.07. The company has a quick ratio of 2.93, a current ratio of 3.86 and a debt-to-equity ratio of 0.47. 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 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). 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 32.08% and a negative return on equity of 49.53%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. On average, analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TMCI shares. Morgan Stanley boosted their price objective on Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Truist Financial lowered their target price on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group upped their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.30.

Institutional Trading of Treace Medical Concepts

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Treace Medical Concepts by 3,441.2% in the second 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. Quest Partners LLC purchased a new position in Treace Medical Concepts during the fourth quarter worth approximately $68,000. Newbridge Financial Services Group Inc. lifted its position 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 in the last quarter. RiverPark Advisors LLC lifted its position in shares of Treace Medical Concepts by 763.9% in the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock valued at $117,000 after acquiring an additional 7,952 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position 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 valued at $62,000 after acquiring an additional 9,245 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.