Treace Medical Concepts, Inc. (NASDAQ:TMCI) Director Richard W. Mott Buys 12,100 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) Director Richard W. Mott acquired 12,100 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average price of $4.99 per share, with a total value of $60,379.00. Following the completion of the transaction, the director now directly owns 1,054,944 shares of the company’s stock, valued at $5,264,170.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Treace Medical Concepts Trading Down 5.4 %

Treace Medical Concepts stock traded down $0.29 during mid-day trading on Thursday, reaching $5.04. The stock had a trading volume of 1,075,906 shares, compared to its average volume of 844,328. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $27.41. The stock’s 50-day simple moving average is $10.35 and its 200-day simple moving average is $11.37.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30). The company had revenue of $51.11 million for the quarter, compared to analysts’ expectations of $49.07 million. Treace Medical Concepts had a negative return on equity of 39.66% and a negative net margin of 27.93%. Treace Medical Concepts’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. Equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus downgraded Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $6.00 in a research report on Wednesday, May 8th. Morgan Stanley cut Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $5.50 in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut Treace Medical Concepts from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $8.00 in a research note on Wednesday, May 8th. BTIG Research cut Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Finally, UBS Group cut Treace Medical Concepts from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $6.50 in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.21.

View Our Latest Stock Analysis on Treace Medical Concepts

Institutional Trading of Treace Medical Concepts

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in Treace Medical Concepts by 48.7% during the third quarter. Van ECK Associates Corp now owns 4,093 shares of the company’s stock worth $54,000 after acquiring an additional 1,340 shares during the period. Quest Partners LLC bought a new stake in shares of Treace Medical Concepts in the fourth quarter valued at $68,000. Newbridge Financial Services Group Inc. raised its stake in shares of Treace Medical Concepts by 100.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after buying an additional 3,567 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Treace Medical Concepts by 20.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company’s stock valued at $107,000 after buying an additional 1,376 shares during the period. Finally, RiverPark Advisors LLC raised its stake in shares of Treace Medical Concepts by 763.9% in the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock valued at $117,000 after buying an additional 7,952 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Company Profile

(Get Free Report)

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.

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Insider Buying and Selling by Quarter for Treace Medical Concepts (NASDAQ:TMCI)

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