Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Rating) Director Thomas E. Timbie sold 4,904 shares of Treace Medical Concepts stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $19.04, for a total transaction of $93,372.16. Following the completion of the transaction, the director now directly owns 1,499,069 shares in the company, valued at approximately $28,542,273.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Treace Medical Concepts Trading Down 0.1 %
Shares of TMCI traded down $0.01 during midday trading on Friday, hitting $19.57. The stock had a trading volume of 259,024 shares, compared to its average volume of 205,917. Treace Medical Concepts, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $31.02. The business has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $17.76. The firm has a market cap of $1.08 billion, a P/E ratio of -39.14 and a beta of 0.06. 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:TMCI - Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. Treace Medical Concepts had a negative net margin of 25.92% and a negative return on equity of 28.57%. The company had revenue of $29.05 million during the quarter, compared to analysts' expectations of $26.18 million. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.64 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on TMCI shares. BTIG Research started coverage on shares of Treace Medical Concepts in a research note on Thursday, May 12th. They issued a "buy" rating and a $22.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of Treace Medical Concepts from $32.00 to $21.00 in a research note on Monday, July 18th. Finally, Morgan Stanley decreased their target price on shares of Treace Medical Concepts from $26.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, July 15th.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC acquired a new stake in shares of Treace Medical Concepts during the second quarter worth approximately $28,000. Amalgamated Bank acquired a new stake in shares of Treace Medical Concepts during the first quarter worth approximately $93,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Treace Medical Concepts during the first quarter worth approximately $189,000. New York State Common Retirement Fund boosted its holdings in shares of Treace Medical Concepts by 30.3% during the fourth quarter. New York State Common Retirement Fund now owns 12,396 shares of the company's stock worth $231,000 after purchasing an additional 2,880 shares during the period. Finally, FWL Investment Management LLC acquired a new stake in shares of Treace Medical Concepts during the fourth quarter worth approximately $321,000. 34.78% of the stock is currently owned by institutional investors and hedge funds.
Treace Medical Concepts Company Profile
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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