John T. Treace Acquires 100,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) CEO John T. Treace acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $5.56 per share, with a total value of $556,000.00. Following the transaction, the chief executive officer now directly owns 6,343,095 shares in the company, valued at approximately $35,267,608.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $4.97 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98. The company has a 50-day moving average of $10.49 and a 200-day moving average of $11.41. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $27.70. The company has a market capitalization of $308.18 million, a price-to-earnings ratio of -5.65 and a beta of 0.37.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30). Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The firm had revenue of $51.11 million during the quarter, compared to analysts’ expectations of $49.07 million. During the same quarter last year, the company earned ($0.23) earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial lowered Treace Medical Concepts from a “buy” rating to a “hold” rating and cut their price target for the stock from $17.00 to $7.00 in a report on Wednesday, May 8th. BTIG Research cut shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lowered shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $8.00 in a research report on Wednesday, May 8th. UBS Group lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $6.50 in a research report on Thursday, May 16th. Finally, Stifel Nicolaus downgraded Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, Treace Medical Concepts presently has a consensus rating of “Hold” and a consensus price target of $12.21.

Check Out Our Latest Research Report on TMCI

Institutional Trading of Treace Medical Concepts

Institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC increased its stake in shares of Treace Medical Concepts by 171.0% in the third quarter. Walleye Capital LLC now owns 139,839 shares of the company’s stock valued at $1,833,000 after buying an additional 88,239 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Treace Medical Concepts by 68.9% during the third quarter. TimesSquare Capital Management LLC now owns 1,433,429 shares of the company’s stock worth $18,792,000 after acquiring an additional 584,539 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Treace Medical Concepts by 85.1% during the third quarter. Gabelli Funds LLC now owns 141,252 shares of the company’s stock valued at $1,852,000 after acquiring an additional 64,959 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Treace Medical Concepts by 146.2% in the third quarter. Qube Research & Technologies Ltd now owns 160,284 shares of the company’s stock valued at $2,101,000 after acquiring an additional 95,194 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Treace Medical Concepts by 3.9% in the third quarter. Vanguard Group Inc. now owns 4,189,582 shares of the company’s stock worth $54,925,000 after purchasing an additional 155,835 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

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Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.

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