Treace Medical Concepts (NASDAQ:TMCI) Sees Unusually-High Trading Volume

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) saw unusually-strong trading volume on Friday . Approximately 6,294 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 156,531 shares.The stock last traded at $13.94 and had previously closed at $13.59.

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

The business has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $18.25. 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 (NASDAQ:TMCIGet Rating) last posted its 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 quarter last year, the company earned ($0.07) earnings per share. As a group, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.65 EPS for the current year.

In other Treace Medical Concepts news, CFO Mark Hair purchased 6,200 shares of the stock in a transaction on Wednesday, May 18th. The shares were bought at an average cost of $15.80 per share, with a total value of $97,960.00. Following the completion of the acquisition, the chief financial officer now owns 28,150 shares in the company, valued at $444,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Treace sold 75,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $14.01, for a total transaction of $1,050,750.00. Following the completion of the sale, the director now directly owns 1,822,790 shares in the company, valued at $25,537,287.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,313 shares of company stock worth $1,548,685. Insiders own 41.89% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Royal Bank of Canada acquired a new stake in Treace Medical Concepts in the 2nd quarter valued at about $26,000. Citigroup Inc. raised its holdings in Treace Medical Concepts by 58.3% in the 3rd quarter. Citigroup Inc. now owns 1,314 shares of the company’s stock valued at $35,000 after acquiring an additional 484 shares during the last quarter. Morgan Stanley acquired a new stake in Treace Medical Concepts in the 2nd quarter valued at about $59,000. Legal & General Group Plc raised its holdings in Treace Medical Concepts by 436.5% in the 4th quarter. Legal & General Group Plc now owns 6,181 shares of the company’s stock valued at $115,000 after acquiring an additional 5,029 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Treace Medical Concepts by 126.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,074 shares of the company’s stock worth $169,000 after buying an additional 5,059 shares during the last quarter. 34.78% of the stock is currently owned by institutional investors and hedge funds.

About Treace Medical Concepts (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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