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

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) Director Thomas E. Timbie sold 4,904 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $19.04, for a total transaction of $93,372.16. Following the completion of the transaction, the director now directly owns 1,499,069 shares of the company’s stock, valued at approximately $28,542,273.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock traded down $0.01 during trading hours on Friday, hitting $19.57. 259,024 shares of the stock were exchanged, compared to its average volume of 205,917. The company has a debt-to-equity ratio of 0.34, a quick ratio of 7.56 and a current ratio of 8.28. The stock has a market capitalization of $1.08 billion, a P/E ratio of -39.14 and a beta of 0.06. Treace Medical Concepts, Inc. has a 12 month low of $12.48 and a 12 month high of $31.02. The business’s 50-day moving average is $15.95 and its two-hundred day moving average is $17.76.

Treace Medical Concepts (NASDAQ:TMCI – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. The firm had revenue of $29.05 million for the quarter, compared to analysts’ expectations of $26.18 million. Treace Medical Concepts had a negative net margin of 25.92% and a negative return on equity of 28.57%. During the same period in the prior year, the firm earned ($0.07) earnings per share. Equities research analysts expect that Treace Medical Concepts, Inc. will post -0.64 EPS for the current fiscal year.

Institutional Trading of Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its stake in Treace Medical Concepts by 0.9% during the second 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 during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of Treace Medical Concepts during the second quarter valued at approximately $4,172,000. Candriam S.C.A. grew its stake in shares of Treace Medical Concepts by 23.5% during the second quarter. Candriam S.C.A. now owns 105,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 20,000 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in shares of Treace Medical Concepts by 28.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 929,882 shares of the company’s stock valued at $13,335,000 after purchasing an additional 206,686 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of Treace Medical Concepts by 22.5% during the second quarter. Emerald Advisers LLC now owns 1,068,884 shares of the company’s stock valued at $15,328,000 after purchasing an additional 196,605 shares during the last quarter. 34.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Treace Medical Concepts Company Profile

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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.