Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Thomas E. Timbie Sells 96,879 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) Director Thomas E. Timbie sold 96,879 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $18.85, for a total transaction of $1,826,169.15. Following the transaction, the director now directly owns 1,552,190 shares in the company, valued at $29,258,781.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Treace Medical Concepts Stock Down 0.1 %

Shares of NASDAQ TMCI opened at $19.57 on Friday. The company has a quick ratio of 7.56, a current ratio of 8.28 and a debt-to-equity ratio of 0.34. Treace Medical Concepts, Inc. has a 52 week low of $12.48 and a 52 week high of $31.02. The firm’s fifty day moving average is $15.95 and its 200 day moving average is $17.76. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -39.14 and a beta of 0.06.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last issued 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 for the quarter, compared to the consensus estimate of $26.18 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. On average, equities research analysts expect that Treace Medical Concepts, Inc. will post -0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

TMCI has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Treace Medical Concepts from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. BTIG Research assumed coverage on shares of Treace Medical Concepts in a research note on Thursday, May 12th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus decreased their target price on shares of Treace Medical Concepts from $32.00 to $21.00 in a research note on Monday, July 18th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC bought a new stake in Treace Medical Concepts in the second quarter valued at $28,000. Amalgamated Bank bought a new stake in Treace Medical Concepts in the first quarter valued at $93,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Treace Medical Concepts in the first quarter valued at $189,000. New York State Common Retirement Fund boosted its holdings in Treace Medical Concepts by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 12,396 shares of the company’s stock valued at $231,000 after acquiring an additional 2,880 shares in the last quarter. Finally, FWL Investment Management LLC bought a new stake in Treace Medical Concepts in the fourth quarter valued at $321,000. 34.78% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Company Profile

(Get Rating)

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.

Recommended Stories

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

Receive News & Ratings for Treace Medical Concepts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Treace Medical Concepts and related companies with MarketBeat.com's FREE daily email newsletter.