Richard W. Mott Buys 12,100 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Richard W. Mott purchased 12,100 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $4.99 per share, with a total value of $60,379.00. Following the completion of the transaction, the director now owns 1,054,944 shares of the company’s stock, valued at $5,264,170.56. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Treace Medical Concepts Price Performance

NASDAQ:TMCI opened at $5.16 on Friday. The business’s 50-day moving average is $10.06 and its 200 day moving average is $11.29. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $27.41. The company has a market capitalization of $319.97 million, a P/E ratio of -5.86 and a beta of 0.37. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.30). The business had revenue of $51.11 million for the quarter, compared to the consensus estimate of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. On average, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BTIG Research cut shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Morgan Stanley downgraded Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $15.00 to $5.50 in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut Treace Medical Concepts from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $8.00 in a research report on Wednesday, May 8th. Truist Financial cut Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $7.00 in a report on Wednesday, May 8th. Finally, UBS Group lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $6.50 in a report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Hold” and an average price target of $12.21.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in shares of Treace Medical Concepts by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 4,093 shares of the company’s stock worth $54,000 after buying an additional 1,340 shares during the last quarter. Quest Partners LLC purchased a new position in Treace Medical Concepts in the fourth quarter worth about $68,000. Newbridge Financial Services Group Inc. increased its stake in Treace Medical Concepts by 100.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after acquiring an additional 3,567 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Treace Medical Concepts by 20.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,376 shares during the period. Finally, RiverPark Advisors LLC lifted its stake in shares of Treace Medical Concepts by 763.9% in the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock valued at $117,000 after purchasing an additional 7,952 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.