Key Points
- CEO John Treace bought 49,810 shares of Treace Medical Concepts at an average price of $2.87, a transaction worth about $142,955. After the purchase, he owned 7.21 million shares.
- The company’s latest quarterly results beat expectations, with EPS of -$0.28 versus an estimated -$0.31 and revenue of $47.2 million topping forecasts.
- Despite the insider buying and earnings beat, analyst sentiment remains cautious: TMCI has a “Reduce” consensus rating and a consensus price target of $4.77.
Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace bought 4,508 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $2.79 per share, for a total transaction of $12,577.32. Following the completion of the purchase, the chief executive officer directly owned 7,162,821 shares of the company's stock, valued at approximately $19,984,270.59. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Treace Medical Concepts Stock Performance
Shares of TMCI stock opened at $3.08 on Friday. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72. The company has a market cap of $199.80 million, a P/E ratio of -3.18 and a beta of 1.10. The firm has a fifty day moving average price of $1.94 and a 200 day moving average price of $2.24.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%.The company had revenue of $47.20 million for the quarter, compared to analysts' expectations of $45.96 million. Sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Treace Medical Concepts
Large investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. acquired a new position in Treace Medical Concepts in the third quarter valued at $122,199,000. Acuitas Investments LLC acquired a new position in Treace Medical Concepts in the third quarter valued at $2,020,000. Weber Capital Management LLC ADV acquired a new position in Treace Medical Concepts in the fourth quarter valued at $1,445,000. William Blair Investment Management LLC boosted its stake in Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company's stock valued at $24,387,000 after acquiring an additional 534,486 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Treace Medical Concepts by 36.4% in the third quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company's stock valued at $8,313,000 after acquiring an additional 330,866 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TMCI. Weiss Ratings restated a "sell (e+)" rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Wall Street Zen upgraded Treace Medical Concepts from a "strong sell" rating to a "sell" rating in a research note on Monday, April 27th. Finally, Lake Street Capital cut their price target on Treace Medical Concepts from $7.50 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $4.77.
Check Out Our Latest Analysis on Treace Medical Concepts
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.
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