Key Points
- Treace Medical Concepts CEO John Treace bought 29,430 shares on June 10 at an average price of $4.02, spending about $118,309. After the purchase, he directly owned 7,353,263 shares, a 0.40% increase in his stake.
- The company recently beat quarterly estimates, reporting a loss of $0.28 per share versus the expected $0.31 loss and revenue of $47.2 million, ahead of the $45.96 million consensus.
- Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $4.77, while the stock opened at $3.91 and has traded between $1.17 and $7.78 over the past year.
Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace bought 22,887 shares of Treace Medical Concepts stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $4.04 per share, with a total value of $92,463.48. Following the completion of the transaction, the chief executive officer owned 7,376,150 shares of the company's stock, valued at $29,799,646. This represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Treace Medical Concepts Price Performance
Treace Medical Concepts stock opened at $3.91 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72. The stock has a market cap of $253.64 million, a price-to-earnings ratio of -4.03 and a beta of 1.40. The business has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.29. 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 announced its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $47.20 million for 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%. On average, research analysts forecast 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 and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in shares of Treace Medical Concepts in the first quarter worth $491,000. Millennium Management LLC grew its holdings in shares of Treace Medical Concepts by 35.3% in the first quarter. Millennium Management LLC now owns 444,887 shares of the company's stock worth $3,733,000 after acquiring an additional 116,114 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Treace Medical Concepts by 133,241.9% in the second quarter. Russell Investments Group Ltd. now owns 41,336 shares of the company's stock worth $243,000 after acquiring an additional 41,305 shares during the period. Invesco Ltd. grew its holdings in shares of Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company's stock worth $88,000 after acquiring an additional 2,362 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Treace Medical Concepts by 256.2% in the second quarter. Marshall Wace LLP now owns 135,877 shares of the company's stock worth $799,000 after acquiring an additional 97,729 shares during the period. Institutional investors own 84.08% of the company's stock.
Wall Street Analyst Weigh In
TMCI has been the subject of several analyst reports. Wall Street Zen upgraded Treace Medical Concepts from a "strong sell" rating to a "sell" rating in a report on Monday, April 27th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital dropped their price objective 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. One 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $4.77.
Read Our Latest Report on TMCI
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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