Treace Medical Concepts (NASDAQ:TMCI) Shares Gap Up to $22.56

Treace Medical Concepts, Inc. (NASDAQ:TMCI) shares gapped up prior to trading on Thursday . The stock had previously closed at $22.56, but opened at $23.58. Treace Medical Concepts shares last traded at $22.83, with a volume of 302 shares traded.

The stock has a fifty day moving average price of $26.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 14.27 and a quick ratio of 13.50.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Thursday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $20.65 million during the quarter, compared to analyst estimates of $18.80 million. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.28 earnings per share for the current year.

Several hedge funds have recently modified their holdings of TMCI. Citigroup Inc. bought a new position in shares of Treace Medical Concepts during the second quarter worth about $26,000. Royal Bank of Canada bought a new stake in Treace Medical Concepts in the second quarter valued at approximately $26,000. Ameritas Investment Partners Inc. bought a new stake in Treace Medical Concepts in the second quarter valued at approximately $27,000. Legal & General Group Plc bought a new stake in Treace Medical Concepts in the second quarter valued at approximately $36,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Treace Medical Concepts in the second quarter valued at approximately $41,000. 24.64% of the stock is owned by institutional investors.

Treace Medical Concepts Company Profile (NASDAQ:TMCI)

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

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