Tactile Systems Technology Inc (NASDAQ:TCMD) CEO Gerald R. Mattys sold 6,150 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $29.23, for a total transaction of $179,764.50. Following the completion of the transaction, the chief executive officer now owns 303,181 shares in the company, valued at $8,861,980.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) opened at $31.15 on Friday. The stock has a market cap of $523.80, a P/E ratio of 100.48, a price-to-earnings-growth ratio of 6.62 and a beta of -0.60. Tactile Systems Technology Inc has a fifty-two week low of $14.37 and a fifty-two week high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. research analysts expect that Tactile Systems Technology Inc will post 0.34 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in TCMD. Peregrine Capital Management LLC acquired a new stake in Tactile Systems Technology during the 3rd quarter worth approximately $16,984,000. Koch Industries Inc. purchased a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $217,000. Lord Abbett & CO. LLC increased its position in shares of Tactile Systems Technology by 108.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock valued at $10,631,000 after purchasing an additional 193,429 shares during the last quarter. Pier Capital LLC purchased a new stake in shares of Tactile Systems Technology in the 3rd quarter valued at approximately $5,635,000. Finally, Cortina Asset Management LLC purchased a new stake in shares of Tactile Systems Technology in the 3rd quarter valued at approximately $5,555,000. Institutional investors own 72.19% of the company’s stock.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday. BTIG Research upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Northland Securities reiterated a “hold” rating and set a $31.50 target price on shares of Tactile Systems Technology in a report on Monday, October 16th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 target price on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Finally, Zacks Investment Research lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $34.25.
Tactile Systems Technology Company Profile
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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