Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Thomas E. Timbie Sells 4,904 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) Director Thomas E. Timbie sold 4,904 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $19.04, for a total value of $93,372.16. Following the transaction, the director now directly owns 1,499,069 shares of the company’s stock, valued at $28,542,273.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Treace Medical Concepts Trading Down 0.1 %

NASDAQ:TMCI opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 8.28 and a quick ratio of 7.56. Treace Medical Concepts, Inc. has a 1 year low of $12.48 and a 1 year high of $31.02. The company has a market cap of $1.08 billion, a P/E ratio of -39.14 and a beta of 0.06. The stock’s fifty day moving average price is $16.01 and its two-hundred day moving average price is $17.76.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. Treace Medical Concepts had a negative return on equity of 28.57% and a negative net margin of 25.92%. The company had revenue of $29.05 million for the quarter, compared to the consensus estimate of $26.18 million. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, analysts expect that Treace Medical Concepts, Inc. will post -0.64 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research started coverage on Treace Medical Concepts in a report on Thursday, May 12th. They set a “buy” rating and a $22.00 price objective for the company. Morgan Stanley dropped their target price on Treace Medical Concepts from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Finally, Stifel Nicolaus dropped their target price on Treace Medical Concepts from $32.00 to $21.00 in a research report on Monday, July 18th.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the business. Emerald Advisers LLC raised its position in shares of Treace Medical Concepts by 130.2% in the first quarter. Emerald Advisers LLC now owns 872,279 shares of the company’s stock worth $16,495,000 after buying an additional 493,351 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Treace Medical Concepts by 83.2% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 723,196 shares of the company’s stock valued at $13,676,000 after acquiring an additional 328,544 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Treace Medical Concepts by 69,823.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,905,063 shares of the company’s stock valued at $110,070,000 after acquiring an additional 5,896,618 shares during the last quarter. Novo Holdings A S increased its stake in Treace Medical Concepts by 76.3% in the fourth quarter. Novo Holdings A S now owns 500,421 shares of the company’s stock valued at $9,328,000 after acquiring an additional 216,652 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Treace Medical Concepts in the fourth quarter valued at $8,757,000. Hedge funds and other institutional investors own 34.78% 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.

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