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

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

Treace Medical Concepts Price Performance

Treace Medical Concepts stock opened at $8.21 on Thursday. 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 company has a market capitalization of $514.10 million, a price-to-earnings ratio of -8.29 and a beta of 0.77. The company’s 50 day simple moving average is $9.19 and its 200-day simple moving average is $7.44. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $13.24.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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 objective on the stock. BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Truist Financial lowered their target price on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a research note on Thursday, March 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Treace Medical Concepts currently has a consensus rating of “Hold” and a consensus price target of $10.14.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TMCI. William Blair Investment Management LLC grew its stake in shares of 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 in the last quarter. JPMorgan Chase & Co. grew its position in Treace Medical Concepts by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after acquiring an additional 714,984 shares in the last quarter. Geode Capital Management LLC increased its stake in Treace Medical Concepts by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock worth $7,909,000 after purchasing an additional 22,159 shares during the period. State Street Corp lifted its position in shares of Treace Medical Concepts by 4.2% during the third quarter. State Street Corp now owns 997,453 shares of the company’s stock worth $5,785,000 after purchasing an additional 39,907 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of 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 purchasing an additional 48,525 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.