Insider Selling: Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sells 50,000 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This 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 can be accessed through the SEC website.

Treace Medical Concepts Trading Up 0.1 %

NASDAQ TMCI opened at $8.22 on Friday. Treace Medical Concepts, Inc. has a one year low of $3.92 and a one year high of $13.24. The company’s 50 day moving average price is $9.20 and its 200 day moving average price is $7.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The firm has a market capitalization of $514.73 million, a price-to-earnings ratio of -8.30 and a beta of 0.77.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TMCI shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. 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 research note on Tuesday, February 4th. Truist Financial cut 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. Finally, Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.14.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC raised its holdings in Treace Medical Concepts by 22.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock valued at $21,865,000 after buying an additional 546,787 shares during the period. JPMorgan Chase & Co. raised its holdings in Treace Medical Concepts by 56.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after buying an additional 714,984 shares during the period. Geode Capital Management LLC raised its holdings in Treace Medical Concepts by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock valued at $7,909,000 after buying an additional 22,159 shares during the period. State Street Corp raised its holdings in Treace Medical Concepts by 4.2% in the third quarter. State Street Corp now owns 997,453 shares of the company’s stock valued at $5,785,000 after buying an additional 39,907 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Treace Medical Concepts by 11.4% in the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company’s stock valued at $3,518,000 after buying an additional 48,525 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

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.