James T. Treace sells 13,961 shares of Treace Medical Concepts, Inc. (NASDAQ: TMCI)

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Treace Medical Concepts, Inc. (NASDAQ: TMCIGet a rating) Director James T. Treace sold 13,961 shares of Treace Medical Concepts in a trade on Monday, July 18. The stock was sold at an average price of $16.09, for a total value of $224,632.49. Following the sale, the director now directly owns 1,256,680 shares of the company, valued at $20,219,981.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website.

Treace Medical Concepts Stock up 0.1%

NASDAQ: TMCI opened at $16.14 on Friday. Treace Medical Concepts, Inc. has a 1-year low of $12.48 and a 1-year high of $31.76. The company has a current ratio of 8.28, a quick ratio of 7.56 and a debt ratio of 0.34. The stock has a market capitalization of $892.20 million, a price/earnings ratio of -32.28 and a beta of -0.60. The stock has a 50-day moving average price of $15.53 and a two-hundred-day moving average price of $17.91.

Treace Medical Concepts (NASDAQ: TMCIGet a rating) last released its quarterly earnings data on Thursday, May 5. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. The company posted revenue of $29.05 million in the quarter, compared to $26.18 million expected by analysts. Treace Medical Concepts recorded a negative return on equity of 28.57% and a negative net margin of 25.92%. During the same period of the previous year, the company made ($0.07) earnings per share. As a group, stock analysts expect Treace Medical Concepts, Inc. to post earnings per share of -0.64 for the current year.

Analyst upgrades and downgrades

TMCI has been the subject of several analyst reports. BTIG Research supported coverage from Treace Medical Concepts in a Thursday, May 12 research note. They set a “buy” rating and a price target of $22.00 for the company. Morgan Stanley cut its price target on Treace Medical Concepts from $26.00 to $22.00 and set an “overweight” rating for the company in a Friday, July 15 research note. Finally, Stifel Nicolaus reduced his target price on Treace Medical Concepts from $32.00 to $21.00 in a research note on Monday.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their holdings in TMCI. Allspring Global Investments Holdings LLC acquired a new position in shares of Treace Medical Concepts during the fourth quarter at a value of approximately $1,736,000. Roubaix Capital LLC acquired a new position in shares of Treace Medical Concepts during the fourth quarter for a value of approximately $5,699,000. Emerald Advisers LLC increased its position in shares of Treace Medical Concepts by 39.4% during the fourth quarter. Emerald Advisers LLC now owns 378,928 shares of the company worth $7,063,000 after purchasing an additional 107,051 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of Treace Medical Concepts by 57.7% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 394,652 shares of the company worth $7,356,000 after purchasing an additional 144,405 shares during the period. Finally, the New York State Common Retirement Fund increased its position in shares of Treace Medical Concepts by 30.3% during the fourth quarter. The New York State Common Retirement Fund now owns 12,396 shares of the company worth $231,000 after purchasing an additional 2,880 shares during the period. 34.78% of the shares are held by institutional investors and hedge funds.

About Treace Medical Concepts

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Treace Medical Concepts, Inc, an orthopedic medical device company, is engaged in the design, manufacture and marketing of medical devices for foot and ankle surgeons in the United States. It offers a lapiplasty procedure that allows podiatric surgeons to treat all three dimensions of the bunion, providing patients with cosmetic and medical improvement.

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