Key Points
- CEO John Treace bought 50,000 shares of Treace Medical Concepts at an average price of $3.56 each, a total purchase of $178,000. After the trade, he owned 7.32 million shares, increasing his stake by 0.69%.
- The stock last traded around $3.60, giving the company a market value of about $233.5 million. It has moved well above its 50-day and 200-day averages, though it remains far below its 52-week high of $7.78.
- Treace recently reported a smaller-than-expected loss and better-than-expected revenue for the quarter, but analysts remain cautious overall. The current consensus rating is “Reduce” with a price target of $4.77.
Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace purchased 50,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $3.56 per share, with a total value of $178,000.00. Following the completion of the purchase, the chief executive officer directly owned 7,323,833 shares of the company's stock, valued at $26,072,845.48. The trade was a 0.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Treace Medical Concepts Stock Performance
Shares of NASDAQ:TMCI opened at $3.60 on Tuesday. The firm has a market capitalization of $233.53 million, a PE ratio of -3.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.58 and a quick ratio of 2.53. The business has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.24. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. As a group, research analysts forecast that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Lake Street Capital decreased their target price on Treace Medical Concepts from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Finally, Wall Street Zen raised Treace Medical Concepts from a "strong sell" rating to a "sell" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $4.77.
Get Our Latest Report on Treace Medical Concepts
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in Treace Medical Concepts by 38.9% in the first quarter. Bank of America Corp DE now owns 3,214,293 shares of the company's stock valued at $4,307,000 after purchasing an additional 900,071 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Treace Medical Concepts in the first quarter valued at about $701,000. Sei Investments Co. purchased a new position in Treace Medical Concepts in the first quarter valued at about $81,000. State of Wyoming boosted its holdings in Treace Medical Concepts by 316.8% in the first quarter. State of Wyoming now owns 95,110 shares of the company's stock valued at $127,000 after purchasing an additional 72,290 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Treace Medical Concepts by 34.0% in the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company's stock valued at $35,000 after purchasing an additional 6,606 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.
Treace Medical Concepts Company Profile
(
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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