Insider Selling: Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sells 6,250 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) insider Daniel E. Owens sold 6,250 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $22.87, for a total transaction of $142,937.50. Following the transaction, the insider now directly owns 30,914 shares in the company, valued at $707,003.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Trading Down 2.2 %

Shares of NASDAQ:TMCI opened at $23.00 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.77 and a current ratio of 4.41. The company has a fifty day simple moving average of $23.29 and a 200 day simple moving average of $22.97. Treace Medical Concepts, Inc. has a 12-month low of $12.48 and a 12-month high of $26.50.

Treace Medical Concepts (NASDAQ:TMCI – Get Rating) last issued its quarterly earnings results on Tuesday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $49.77 million during the quarter. Treace Medical Concepts had a negative net margin of 30.19% and a negative return on equity of 54.51%. Analysts expect that Treace Medical Concepts, Inc. will post -0.8 EPS for the current year.

Institutional Trading of Treace Medical Concepts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS increased its stake in shares of Treace Medical Concepts by 69.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 494,223 shares of the company’s stock worth $10,908,000 after buying an additional 203,260 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Treace Medical Concepts by 6.4% during the third quarter. Lord Abbett & CO. LLC now owns 530,345 shares of the company’s stock valued at $11,705,000 after purchasing an additional 31,812 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Treace Medical Concepts by 34.2% during the third quarter. Point72 Asset Management L.P. now owns 295,431 shares of the company’s stock valued at $6,520,000 after purchasing an additional 75,236 shares during the last quarter. Castleark Management LLC bought a new stake in Treace Medical Concepts during the third quarter valued at $3,325,000. Finally, Essex Investment Management Co. LLC increased its stake in Treace Medical Concepts by 47.8% during the third quarter. Essex Investment Management Co. LLC now owns 142,954 shares of the company’s stock valued at $3,155,000 after purchasing an additional 46,263 shares during the last quarter. Institutional investors own 46.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their target price on shares of Treace Medical Concepts from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 8th.

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.