Insider Selling: Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sells $127,375.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Rating) insider Daniel E. Owens sold 6,250 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $20.38, for a total transaction of $127,375.00. Following the sale, the insider now owns 10,700 shares in the company, valued at $218,066. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Treace Medical Concepts Stock Up 6.6 %

TMCI opened at $22.57 on Friday. The company has a fifty day moving average of $22.79 and a 200 day moving average of $18.98. Treace Medical Concepts, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $25.02. The company has a quick ratio of 4.92, a current ratio of 5.66 and a debt-to-equity ratio of 0.85.

Treace Medical Concepts (NASDAQ:TMCIGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.06. Treace Medical Concepts had a negative net margin of 35.87% and a negative return on equity of 51.67%. The company had revenue of $33.06 million during the quarter, compared to analysts’ expectations of $30.10 million. As a group, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC purchased a new position in shares of Treace Medical Concepts in the 2nd quarter worth $11,740,000. Next Century Growth Investors LLC grew its stake in shares of Treace Medical Concepts by 9.9% in the 1st quarter. Next Century Growth Investors LLC now owns 1,687,850 shares of the company’s stock worth $31,917,000 after buying an additional 152,240 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Treace Medical Concepts by 0.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,139,709 shares of the company’s stock worth $16,343,000 after buying an additional 10,000 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Treace Medical Concepts by 96.6% in the 1st quarter. New York State Common Retirement Fund now owns 24,374 shares of the company’s stock worth $461,000 after buying an additional 11,978 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Treace Medical Concepts in the 1st quarter worth $93,000. 40.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BTIG Research raised their price objective on shares of Treace Medical Concepts to $29.00 in a research report on Tuesday, November 15th. Stifel Nicolaus raised their price objective on shares of Treace Medical Concepts from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Morgan Stanley raised their price objective on shares of Treace Medical Concepts from $23.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, October 11th.

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.

Further Reading

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

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