Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Sells $286,364.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) Director Richard W. Mott sold 11,014 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $26.00, for a total value of $286,364.00. Following the completion of the transaction, the director now owns 1,250,000 shares of the company’s stock, valued at approximately $32,500,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock opened at $25.94 on Friday. The stock has a market cap of $1.44 billion, a P/E ratio of -32.02 and a beta of -0.15. The company has a current ratio of 5.66, a quick ratio of 4.92 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $23.57 and a 200-day moving average of $21.59. Treace Medical Concepts, Inc. has a 52 week low of $12.48 and a 52 week high of $26.50.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last released its 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 company had revenue of $33.06 million during the quarter, compared to analysts’ expectations of $30.10 million. Treace Medical Concepts had a negative return on equity of 51.67% and a negative net margin of 35.87%. On average, analysts expect that Treace Medical Concepts, Inc. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG raised its position in shares of Treace Medical Concepts by 79.1% during the 3rd quarter. UBS Group AG now owns 1,442 shares of the company’s stock valued at $32,000 after acquiring an additional 637 shares in the last quarter. CWM LLC acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter valued at approximately $28,000. MCF Advisors LLC acquired a new stake in shares of Treace Medical Concepts during the 3rd quarter valued at approximately $45,000. Newbridge Financial Services Group Inc. raised its position in shares of Treace Medical Concepts by 28.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,454 shares of the company’s stock valued at $54,000 after acquiring an additional 547 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Treace Medical Concepts during the 1st quarter valued at approximately $93,000. 46.17% of the stock is owned by institutional investors and hedge funds.

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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