Thomas E. Timbie Sells 96,879 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) Director Thomas E. Timbie sold 96,879 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $18.85, for a total transaction of $1,826,169.15. Following the transaction, the director now owns 1,552,190 shares in the company, valued at approximately $29,258,781.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Treace Medical Concepts Stock Down 0.1 %

NASDAQ TMCI traded down $0.01 on Friday, reaching $19.57. 259,024 shares of the stock were exchanged, compared to its average volume of 205,917. Treace Medical Concepts, Inc. has a one year low of $12.48 and a one year high of $31.02. The company’s 50-day simple moving average is $15.95 and its two-hundred day simple moving average is $17.76. 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 (NASDAQ:TMCI – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. Treace Medical Concepts had a negative net margin of 25.92% and a negative return on equity of 28.57%. The business had revenue of $29.05 million during the quarter, compared to analyst estimates of $26.18 million. During the same period last year, the firm posted ($0.07) EPS. As a group, sell-side analysts expect that Treace Medical Concepts, Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TMCI. CWM LLC purchased a new position in Treace Medical Concepts during the second quarter worth $28,000. Amalgamated Bank bought a new stake in shares of Treace Medical Concepts in the first quarter valued at about $93,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Treace Medical Concepts in the first quarter valued at about $189,000. New York State Common Retirement Fund raised its holdings in shares of Treace Medical Concepts by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 12,396 shares of the company’s stock valued at $231,000 after acquiring an additional 2,880 shares in the last quarter. Finally, FWL Investment Management LLC bought a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $321,000. 34.78% of the stock is owned by hedge funds and other institutional investors.

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.