Treace Medical Concepts (NASDAQ:TMCI) Shares Gap Down to $14.70

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) gapped down prior to trading on Thursday . The stock had previously closed at $14.70, but opened at $13.74. Treace Medical Concepts shares last traded at $13.71, with a volume of 28 shares.

Several analysts have recently issued reports on TMCI shares. BTIG Research began coverage on shares of Treace Medical Concepts in a research report on Thursday, May 12th. They issued a “buy” rating and a $22.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Treace Medical Concepts from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, March 4th. Finally, Morgan Stanley cut their price objective on shares of Treace Medical Concepts from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, March 4th.

The company has a debt-to-equity ratio of 0.34, a current ratio of 8.28 and a quick ratio of 7.56. The stock has a market cap of $745.16 million, a price-to-earnings ratio of -29.40 and a beta of -1.09. The business’s fifty day simple moving average is $17.14 and its 200 day simple moving average is $18.27.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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) EPS. As a group, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.65 EPS for the current fiscal year.

In other Treace Medical Concepts news, Director James T. Treace sold 30,313 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $15.35, for a total value of $465,304.55. Following the completion of the sale, the director now directly owns 1,356,128 shares in the company, valued at $20,816,564.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Treace sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $14.01, for a total value of $1,050,750.00. Following the completion of the transaction, the director now owns 1,822,790 shares of the company’s stock, valued at $25,537,287.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,313 shares of company stock valued at $1,548,685. Corporate insiders own 41.89% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TMCI. Bank of America Corp DE increased its stake in shares of Treace Medical Concepts by 267.7% in the 1st quarter. Bank of America Corp DE now owns 60,718 shares of the company’s stock valued at $1,149,000 after purchasing an additional 44,204 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Treace Medical Concepts during the 1st quarter worth about $189,000. State Street Corp lifted its stake in shares of Treace Medical Concepts by 20.9% in the 1st quarter. State Street Corp now owns 486,776 shares of the company’s stock valued at $9,205,000 after purchasing an additional 84,142 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Treace Medical Concepts by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 125,721 shares of the company’s stock valued at $2,378,000 after purchasing an additional 3,265 shares during the period. Finally, Next Century Growth Investors LLC raised its stake 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 worth $31,917,000 after buying an additional 152,240 shares during the period. 34.78% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Company Profile (NASDAQ:TMCI)

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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