Treace Medical Concepts (NASDAQ:TMCI) Trading Up 5.3% Following Analyst Upgrade

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating)’s share price was up 5.3% during trading on Thursday after Morgan Stanley raised their price target on the stock from $28.00 to $30.00. Morgan Stanley currently has an overweight rating on the stock. Treace Medical Concepts traded as high as $25.83 and last traded at $25.80. Approximately 254,988 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 390,302 shares. The stock had previously closed at $24.50.

Separately, BTIG Research lifted their target price on shares of Treace Medical Concepts to $29.00 in a report on Tuesday, November 15th.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CFO Mark Hair sold 1,040 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $24.41, for a total value of $25,386.40. Following the transaction, the chief financial officer now directly owns 27,110 shares of the company’s stock, valued at approximately $661,755.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Treace Medical Concepts news, CFO Mark Hair sold 1,040 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $24.41, for a total value of $25,386.40. Following the transaction, the chief financial officer now directly owns 27,110 shares of the company’s stock, valued at approximately $661,755.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James T. Treace sold 25,000 shares of the business’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $24.18, for a total transaction of $604,500.00. Following the sale, the director now owns 1,061,441 shares in the company, valued at $25,665,643.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 504,915 shares of company stock valued at $11,850,885. 41.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $25,000. UBS Group AG boosted its position in shares of Treace Medical Concepts by 79.1% in the 3rd quarter. UBS Group AG now owns 1,442 shares of the company’s stock worth $32,000 after buying an additional 637 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Treace Medical Concepts in the 3rd quarter worth about $45,000. Van ECK Associates Corp purchased a new stake in shares of Treace Medical Concepts in the 4th quarter worth about $52,000. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Treace Medical Concepts by 28.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,454 shares of the company’s stock worth $54,000 after buying an additional 547 shares in the last quarter. 46.17% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.92 and a current ratio of 5.66. The firm’s 50-day moving average is $23.28 and its 200 day moving average is $22.84. The firm has a market capitalization of $1.34 billion, a PE ratio of -31.26 and a beta of -0.10.

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.