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

Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Rating) insider Daniel E. Owens sold 6,250 shares of the firm’s stock in a transaction dated 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 owns 30,914 shares of the company’s stock, valued at approximately $707,003.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Treace Medical Concepts Price Performance

TMCI traded down $0.51 during midday trading on Friday, reaching $23.00. 833,813 shares of the company’s stock were exchanged, compared to its average volume of 427,581. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -29.87 and a beta of -0.10. The company has a quick ratio of 3.77, a current ratio of 4.41 and a debt-to-equity ratio of 0.87. Treace Medical Concepts, Inc. has a one year low of $12.48 and a one year high of $26.50. The business has a 50-day simple moving average of $23.29 and a two-hundred day simple moving average of $22.95.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TMCI. Altshuler Shaham Ltd bought a new position in shares of Treace Medical Concepts in the fourth quarter valued at approximately $25,000. UBS Group AG raised its stake in shares of Treace Medical Concepts by 79.1% in the third quarter. UBS Group AG now owns 1,442 shares of the company’s stock valued at $32,000 after acquiring an additional 637 shares during the last quarter. MCF Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the third quarter valued at approximately $45,000. Van ECK Associates Corp acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $52,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Treace Medical Concepts by 28.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 2,454 shares of the company’s stock valued at $54,000 after purchasing an additional 547 shares in the last quarter. Institutional investors own 46.17% of the company’s stock.

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.