Key Points
- CEO John Treace bought 43,000 shares of Treace Medical Concepts at $2.17 each, spending about $93,310 and increasing his holdings by 0.61%.
- The stock was trading up 9.5% and opened at $2.77, while the company’s latest earnings beat expectations with EPS of -$0.28 versus -$0.31 expected and revenue of $47.2 million versus $45.96 million forecast.
- Wall Street remains cautious on TMCI, with a consensus “Reduce” rating and an average price target of $4.77, even as institutional ownership remains high at 84.08%.
Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace acquired 43,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $2.17 per share, with a total value of $93,310.00. Following the transaction, the chief executive officer owned 7,047,550 shares in the company, valued at $15,293,183.50. This represents a 0.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Treace Medical Concepts Trading Up 9.5%
Treace Medical Concepts stock opened at $2.77 on Friday. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. The stock has a market cap of $179.70 million, a PE ratio of -2.86 and a beta of 1.10. The stock has a 50-day moving average price of $1.67 and a 200 day moving average price of $2.49. Treace Medical Concepts, Inc. has a 52 week low of $1.17 and a 52 week high of $7.78.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The company had revenue of $47.20 million during the quarter, compared to analysts' expectations of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.
Institutional Trading of Treace Medical Concepts
A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth about $701,000. Sei Investments Co. purchased a new stake in shares of Treace Medical Concepts during the 1st quarter worth about $81,000. State of Wyoming grew its holdings in shares of Treace Medical Concepts by 316.8% during the 1st quarter. State of Wyoming now owns 95,110 shares of the company's stock worth $127,000 after purchasing an additional 72,290 shares during the period. Chicago Partners Investment Group LLC grew its holdings in shares of Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company's stock worth $35,000 after purchasing an additional 6,606 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company's stock worth $40,000 after purchasing an additional 6,554 shares during the period. Hedge funds and other institutional investors own 84.08% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on TMCI shares. Lake Street Capital lowered their price target on Treace Medical Concepts from $7.50 to $7.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Treace Medical Concepts from a "strong sell" rating to a "sell" rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $4.77.
Read Our Latest Stock Report on TMCI
About Treace Medical Concepts
(
Get Free Report)
Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.
The Lapiplasty System has received clearance from the U.S.
Further Reading
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