Treace Medical Concepts, Inc. (NASDAQ:TMCI – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $23.69, but opened at $24.58. Treace Medical Concepts shares last traded at $24.64, with a volume of 5,443 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on TMCI shares. Truist Financial started coverage on shares of Treace Medical Concepts in a research report on Monday, May 1st. They set a “buy” rating and a $33.00 price target for the company. BTIG Research increased their price target on shares of Treace Medical Concepts from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Finally, Stephens initiated coverage on shares of Treace Medical Concepts in a research report on Monday, April 10th. They set an “equal weight” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.
Treace Medical Concepts Stock Performance
The stock has a market capitalization of $1.52 billion, a PE ratio of -29.61 and a beta of -0.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.58 and a quick ratio of 8.61. The business’s fifty day moving average price is $25.38 and its 200-day moving average price is $24.58.
Insider Activity at Treace Medical Concepts
In related news, Director F Barry Bays sold 16,204 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $25.55, for a total value of $414,012.20. Following the sale, the director now directly owns 1,102,421 shares of the company’s stock, valued at $28,166,856.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Treace Medical Concepts news, insider Sean F. Scanlan sold 25,000 shares of Treace Medical Concepts stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $25.44, for a total transaction of $636,000.00. Following the transaction, the insider now directly owns 32,395 shares of the company’s stock, valued at $824,128.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F Barry Bays sold 16,204 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $25.55, for a total transaction of $414,012.20. Following the transaction, the director now directly owns 1,102,421 shares in the company, valued at $28,166,856.55. The disclosure for this sale can be found here. Insiders have sold 1,182,025 shares of company stock valued at $31,220,477 over the last three months. 28.69% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its holdings in shares of Treace Medical Concepts by 0.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 532,106 shares of the company’s stock worth $12,233,000 after purchasing an additional 1,761 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Treace Medical Concepts by 3.8% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 945,973 shares of the company’s stock valued at $21,748,000 after acquiring an additional 34,464 shares in the last quarter. Van ECK Associates Corp bought a new stake in Treace Medical Concepts in the fourth quarter valued at $52,000. Arcadia Investment Management Corp MI bought a new stake in Treace Medical Concepts in the fourth quarter valued at $200,000. Finally, William Blair Investment Management LLC boosted its holdings in Treace Medical Concepts by 28.7% in the fourth quarter. William Blair Investment Management LLC now owns 728,767 shares of the company’s stock valued at $16,754,000 after acquiring an additional 162,447 shares in the last quarter. Institutional investors own 56.30% of the company’s stock.
About Treace Medical Concepts
Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices for physicians, surgeons, ambulatory surgery centers, and hospitals 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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