Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Update

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,580,000 shares, an increase of 23.4% from the April 30th total of 1,280,000 shares. Based on an average daily volume of 223,800 shares, the short-interest ratio is presently 7.1 days. Currently, 5.0% of the shares of the stock are sold short.

Shares of TMCI stock opened at $16.69 on Wednesday. The company has a current ratio of 8.28, a quick ratio of 7.56 and a debt-to-equity ratio of 0.34. Treace Medical Concepts has a 52-week low of $12.48 and a 52-week high of $37.17. The business’s fifty day moving average is $17.84 and its 200 day moving average is $18.51.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last released 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 net margin of 25.92% and a negative return on equity of 28.57%. During the same quarter last year, the business earned ($0.07) earnings per share. As a group, equities research analysts predict that Treace Medical Concepts will post -0.69 earnings per share for the current year.

In other Treace Medical Concepts news, Director John R. Treace sold 75,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $14.01, for a total transaction of $1,050,750.00. Following the sale, the director now directly owns 1,822,790 shares in the company, valued at approximately $25,537,287.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Terry W. Lubben purchased 2,500 shares of the stock in a transaction dated Tuesday, March 8th. The stock was purchased at an average price of $18.62 per share, with a total value of $46,550.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 106,315 shares of company stock worth $1,532,053. 41.89% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new position in Treace Medical Concepts in the 2nd quarter worth about $26,000. Citigroup Inc. increased its stake in shares of Treace Medical Concepts by 58.3% in the third quarter. Citigroup Inc. now owns 1,314 shares of the company’s stock worth $35,000 after acquiring an additional 484 shares during the period. Morgan Stanley acquired a new stake in Treace Medical Concepts during the second quarter valued at $59,000. Legal & General Group Plc grew its position in Treace Medical Concepts by 436.5% during the fourth quarter. Legal & General Group Plc now owns 6,181 shares of the company’s stock valued at $115,000 after buying an additional 5,029 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its position in Treace Medical Concepts by 126.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,074 shares of the company’s stock valued at $169,000 after buying an additional 5,059 shares during the period. Institutional investors own 34.78% of the company’s stock.

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

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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