Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace bought 5,000 shares of the company's stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $4.35 per share, with a total value of $21,750.00. Following the transaction, the chief executive officer owned 7,393,383 shares of the company's stock, valued at $32,161,216.05. The trade was a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Treace Medical Concepts Trading Up 0.7%
Shares of TMCI opened at $4.37 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.78. The firm has a market capitalization of $284.22 million, a PE ratio of -4.70 and a beta of 1.37. The stock's fifty day simple moving average is $4.36 and its 200-day simple moving average is $2.91.
Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. The business had revenue of $45.38 million for the quarter, compared to analysts' expectations of $44.02 million. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%. As a group, research analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.
Hedge Funds Weigh In On Treace Medical Concepts
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in Treace Medical Concepts in the second quarter valued at approximately $13,154,000. BlackRock Inc. bought a new position in shares of Treace Medical Concepts during the second quarter worth $5,492,000. Gagnon Securities LLC boosted its position in shares of Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company's stock worth $7,621,000 after purchasing an additional 852,337 shares in the last quarter. Weber Capital Management LLC ADV acquired a new position in shares of Treace Medical Concepts in the 2nd quarter valued at $2,346,676,000. Finally, Gagnon Advisors LLC grew its holdings in shares of Treace Medical Concepts by 58.4% in the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company's stock valued at $3,758,000 after buying an additional 565,570 shares during the period. Institutional investors own 84.08% of the company's stock.
Analyst Upgrades and Downgrades
TMCI has been the topic of several analyst reports. Wall Street Zen upgraded shares of Treace Medical Concepts from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Truist Financial raised their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a "hold" rating in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of Treace Medical Concepts from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $5.17.
Check Out Our Latest Stock Analysis on Treace Medical Concepts
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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