Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Thomas E. Timbie Sells 50,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) Director Thomas E. Timbie sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $20.14, for a total value of $1,007,000.00. Following the completion of the sale, the director now owns 1,399,069 shares of the company’s stock, valued at $28,177,249.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Treace Medical Concepts Trading Up 6.6 %

Shares of TMCI stock opened at $22.57 on Friday. The company has a 50 day moving average of $22.79 and a 200-day moving average of $18.98. The firm has a market cap of $1.25 billion, a P/E ratio of -27.86 and a beta of -0.12. Treace Medical Concepts, Inc. has a 12-month low of $12.48 and a 12-month high of $25.02. The company has a quick ratio of 4.92, a current ratio of 5.66 and a debt-to-equity ratio of 0.85.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.06. The firm had revenue of $33.06 million during the quarter, compared to the consensus estimate of $30.10 million. Treace Medical Concepts had a negative net margin of 35.87% and a negative return on equity of 51.67%. Sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on TMCI shares. Stifel Nicolaus upped their price target on shares of Treace Medical Concepts from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, September 21st. BTIG Research upped their price target on shares of Treace Medical Concepts to $29.00 in a research report on Tuesday, November 15th. Finally, Morgan Stanley increased their price objective on shares of Treace Medical Concepts from $23.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 11th.

Hedge Funds Weigh In On Treace Medical Concepts

A number of large investors have recently added to or reduced their stakes in TMCI. CWM LLC purchased a new position in shares of Treace Medical Concepts in the second quarter valued at about $28,000. UBS Group AG boosted its stake in Treace Medical Concepts by 79.1% during the third quarter. UBS Group AG now owns 1,442 shares of the company’s stock worth $32,000 after acquiring an additional 637 shares in the last quarter. MCF Advisors LLC bought a new stake in Treace Medical Concepts during the third quarter worth about $45,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Treace Medical Concepts by 28.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 2,454 shares of the company’s stock worth $54,000 after buying an additional 547 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Treace Medical Concepts in the first quarter worth approximately $93,000. Hedge funds and other institutional investors own 40.96% of the company’s stock.

About Treace Medical Concepts

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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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