Treace Medical Concepts (NASDAQ:TMCI – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05), Briefing.com reports. Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The company had revenue of $44.46 million during the quarter, compared to the consensus estimate of $43.00 million. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) earnings per share. Treace Medical Concepts updated its FY 2024 guidance to EPS.
Treace Medical Concepts Trading Down 1.5 %
NASDAQ:TMCI traded down $0.10 on Wednesday, reaching $6.56. 2,701,290 shares of the stock traded hands, compared to its average volume of 919,636. The company’s 50 day moving average is $6.71 and its 200-day moving average is $9.89. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. Treace Medical Concepts has a 1-year low of $3.92 and a 1-year high of $20.77. The firm has a market capitalization of $406.77 million, a price-to-earnings ratio of -7.35 and a beta of 0.23.
Insider Transactions at Treace Medical Concepts
In other Treace Medical Concepts news, CEO John T. Treace acquired 150,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were bought at an average cost of $4.58 per share, with a total value of $687,000.00. Following the purchase, the chief executive officer now directly owns 5,943,095 shares of the company’s stock, valued at $27,219,375.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John T. Treace bought 150,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $4.58 per share, with a total value of $687,000.00. Following the completion of the purchase, the chief executive officer now directly owns 5,943,095 shares in the company, valued at $27,219,375.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Mott purchased 12,100 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was bought at an average cost of $4.99 per share, with a total value of $60,379.00. Following the completion of the purchase, the director now owns 1,054,944 shares of the company’s stock, valued at approximately $5,264,170.56. The disclosure for this purchase can be found here. Insiders bought a total of 593,902 shares of company stock worth $2,930,422 over the last three months. 24.43% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on Treace Medical Concepts
Treace Medical Concepts Company Profile
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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