Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Sells $1,151,500.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) Director Thomas E. Timbie sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $23.03, for a total transaction of $1,151,500.00. Following the sale, the director now directly owns 1,149,069 shares of the company’s stock, valued at $26,463,059.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Price Performance

TMCI stock opened at $23.00 on Friday. The company has a current ratio of 4.41, a quick ratio of 3.77 and a debt-to-equity ratio of 0.87. Treace Medical Concepts, Inc. has a one year low of $12.48 and a one year high of $26.50. The firm has a market capitalization of $1.41 billion, a PE ratio of -29.87 and a beta of -0.10. The firm has a 50-day moving average of $23.29 and a two-hundred day moving average of $22.97.

Treace Medical Concepts (NASDAQ:TMCI – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $49.77 million during the quarter. Treace Medical Concepts had a negative net margin of 30.19% and a negative return on equity of 54.51%. On average, analysts forecast that Treace Medical Concepts, Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price objective on shares of Treace Medical Concepts from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, March 8th.

Institutional Trading of Treace Medical Concepts

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth approximately $25,000. FWL Investment Management LLC purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth approximately $123,000. TD Capital Management LLC purchased a new stake in shares of Treace Medical Concepts in the fourth quarter worth approximately $57,000. Summit Partners Public Asset Management LLC lifted its position in shares of Treace Medical Concepts by 1.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 493,213 shares of the company’s stock worth $11,339,000 after purchasing an additional 8,127 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Treace Medical Concepts during the fourth quarter valued at approximately $1,153,000. 46.17% of the stock is owned by hedge funds and other institutional investors.

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.