Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $28.32, for a total transaction of $42,480.00. Following the completion of the sale, the chief operating officer now directly owns 119,777 shares of the company’s stock, valued at approximately $3,392,084.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Tactile Systems Technology Inc (TCMD) traded up $1.15 during trading on Friday, reaching $29.41. 190,451 shares of the company’s stock traded hands, compared to its average volume of 192,238. Tactile Systems Technology Inc has a 12-month low of $14.37 and a 12-month high of $37.88. The company has a market capitalization of $500.25, a PE ratio of 94.87, a PEG ratio of 6.33 and a beta of -0.60.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $27.66 million. During the same period in the previous year, the business earned $0.01 earnings per share. Tactile Systems Technology’s revenue for the quarter was up 25.0% compared to the same quarter last year. equities analysts anticipate that Tactile Systems Technology Inc will post 0.34 EPS for the current fiscal year.
Several research firms recently weighed in on TCMD. BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Guggenheim assumed coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They issued a “buy” rating and a $47.00 price target on the stock. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, November 10th. Northland Securities assumed coverage on shares of Tactile Systems Technology in a research report on Tuesday, October 17th. They issued a “market perform” rating on the stock. Finally, Sidoti assumed coverage on shares of Tactile Systems Technology in a research report on Friday, December 8th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.25.
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Tactile Systems Technology by 39.3% in the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after acquiring an additional 1,252 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Tactile Systems Technology by 201.8% during the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after buying an additional 3,457 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Tactile Systems Technology by 10,882.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after buying an additional 7,400 shares during the period. Alliancebernstein L.P. acquired a new stake in Tactile Systems Technology during the 2nd quarter worth about $266,000. Finally, Rhumbline Advisers acquired a new stake in Tactile Systems Technology during the 2nd quarter worth about $267,000. Hedge funds and other institutional investors own 71.68% of the company’s stock.
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About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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