Insider Selling: Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Sells 30,313 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) Director James T. Treace sold 30,313 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $15.35, for a total value of $465,304.55. Following the transaction, the director now directly owns 1,356,128 shares of the company’s stock, valued at $20,816,564.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:TMCI traded up $0.67 during trading hours on Friday, hitting $16.72. The company had a trading volume of 161,385 shares, compared to its average volume of 228,441. The company has a current ratio of 8.28, a quick ratio of 7.56 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $18.04 and a 200 day moving average of $18.63. The company has a market cap of $924.26 million and a P/E ratio of -32.10. Treace Medical Concepts, Inc. has a 1 year low of $12.48 and a 1 year high of $37.17.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. Treace Medical Concepts had a negative return on equity of 28.57% and a negative net margin of 25.92%. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.69 earnings per share for the current year.

Several research analysts recently commented on the company. Zacks Investment Research downgraded Treace Medical Concepts from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. BTIG Research assumed coverage on Treace Medical Concepts in a research note on Thursday, May 12th. They issued a “buy” rating and a $22.00 price objective for the company. Morgan Stanley reduced their price objective on Treace Medical Concepts from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, March 4th. Finally, Stifel Nicolaus reduced their price objective on Treace Medical Concepts from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, March 4th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of “Buy” and an average target price of $28.50.

A number of large investors have recently modified their holdings of TMCI. CIBC Private Wealth Group LLC grew its holdings in shares of Treace Medical Concepts by 69,823.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,905,063 shares of the company’s stock worth $110,070,000 after purchasing an additional 5,896,618 shares during the period. Alliancebernstein L.P. boosted its holdings in Treace Medical Concepts by 32.2% during the 4th quarter. Alliancebernstein L.P. now owns 2,454,893 shares of the company’s stock valued at $45,759,000 after acquiring an additional 597,376 shares during the period. Vanguard Group Inc. boosted its holdings in Treace Medical Concepts by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,370,382 shares of the company’s stock valued at $44,824,000 after acquiring an additional 94,603 shares during the period. Next Century Growth Investors LLC boosted its holdings in Treace Medical Concepts by 9.9% during the 1st quarter. Next Century Growth Investors LLC now owns 1,687,850 shares of the company’s stock valued at $31,917,000 after acquiring an additional 152,240 shares during the period. Finally, BlackRock Inc. raised its position in Treace Medical Concepts by 5.7% in the 1st quarter. BlackRock Inc. now owns 1,605,189 shares of the company’s stock valued at $30,352,000 after purchasing an additional 86,363 shares in the last quarter. Institutional investors own 34.78% of the company’s stock.

Treace Medical Concepts Company Profile (Get Rating)

Treace Medical Concepts, Inc, an orthopedic medical device company, engages in the design, manufacture, and marketing of medical devices for foot and ankle surgeons in the United States. It offers Lapiplasty procedure that allows podiatric surgeons to treat all three dimensions of the bunion, providing patients with a cosmetic and medical improvement.

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Insider Buying and Selling by Quarter for Treace Medical Concepts (NASDAQ:TMCI)

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