Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider John T. Treace Acquires 15,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) insider John T. Treace purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average cost of $21.83 per share, for a total transaction of $327,450.00. Following the completion of the acquisition, the insider now directly owns 5,541,455 shares in the company, valued at approximately $120,969,962.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Treace Medical Concepts Stock Down 3.5 %

Treace Medical Concepts stock opened at $21.77 on Tuesday. 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, Inc. has a 12-month low of $12.48 and a 12-month high of $25.02. The firm’s fifty day moving average is $22.79 and its 200 day moving average is $18.98. The company has a market capitalization of $1.21 billion, a PE ratio of -26.88 and a beta of -0.12.

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

Analyst Ratings Changes

A number of research firms have weighed in on TMCI. Stifel Nicolaus boosted their target price 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. Morgan Stanley boosted their target price on shares of Treace Medical Concepts from $23.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. Finally, BTIG Research boosted their price target on shares of Treace Medical Concepts to $29.00 in a research report on Tuesday, November 15th.

Institutional Trading of Treace Medical Concepts

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Industrial Alliance Investment Management Inc. bought a new stake in Treace Medical Concepts during the 3rd quarter valued at $2,841,000. Advisory Research Inc. bought a new stake in Treace Medical Concepts during the 3rd quarter valued at $2,479,000. State Street Corp increased its stake in Treace Medical Concepts by 36.0% during the 3rd quarter. State Street Corp now owns 657,895 shares of the company’s stock valued at $14,520,000 after purchasing an additional 174,080 shares in the last quarter. Castleark Management LLC bought a new stake in Treace Medical Concepts during the 3rd quarter valued at $3,325,000. Finally, Algert Global LLC increased its stake in Treace Medical Concepts by 156.3% during the 3rd quarter. Algert Global LLC now owns 29,312 shares of the company’s stock valued at $647,000 after purchasing an additional 17,875 shares in the last quarter. 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.

Further Reading

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

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