Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sean F. Scanlan Sells 50,000 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) insider Sean F. Scanlan sold 50,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This trade represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Treace Medical Concepts Price Performance

NASDAQ:TMCI traded up $0.03 during trading hours on Friday, reaching $8.25. 439,501 shares of the company were exchanged, compared to its average volume of 732,653. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $9.22 and its 200-day moving average is $7.48. The firm has a market cap of $516.61 million, a PE ratio of -8.33 and a beta of 0.77. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $13.24.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TMCI. Truist Financial dropped their price objective on shares of Treace Medical Concepts from $10.00 to $9.50 and set a "hold" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a "buy" rating and a $14.50 price target on the stock. Finally, BTIG Research raised shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Treace Medical Concepts currently has an average rating of "Hold" and an average price target of $10.14.

Remove Ads

Hedge Funds Weigh In On Treace Medical Concepts

A number of large investors have recently added to or reduced their stakes in TMCI. Quarry LP acquired a new stake in shares of Treace Medical Concepts in the third quarter valued at about $38,000. HighTower Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the third quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Treace Medical Concepts by 243.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company's stock valued at $62,000 after buying an additional 7,522 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $69,000. Finally, Wolverine Trading LLC raised its position in shares of Treace Medical Concepts by 17.7% in the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company's stock valued at $75,000 after buying an additional 1,946 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Company Profile

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.