Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $28.32, for a total value 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 legal filing with the SEC, which is available at this hyperlink.
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) traded up $1.56 during trading hours on Friday, hitting $31.15. The stock had a trading volume of 356,574 shares, compared to its average volume of 146,338. 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 cap of $523.80, a price-to-earnings ratio of 100.48, a P/E/G ratio of 6.62 and a beta of -0.60.
Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The firm had revenue of $28.28 million during the quarter, compared to analyst estimates of $27.66 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was up 25.0% compared to the same quarter last year. research analysts predict that Tactile Systems Technology Inc will post 0.34 earnings per share for the current year.
A number of research firms have recently weighed in on TCMD. BidaskClub raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Saturday. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price target on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. Sidoti assumed coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating for the company. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, November 10th. Finally, BTIG Research raised Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.25.
Several large investors have recently made changes to their positions in TCMD. Schwab Charles Investment Management Inc. bought a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $441,000. Rhumbline Advisers purchased a new stake in shares of Tactile Systems Technology in the 2nd quarter worth approximately $267,000. Bank of New York Mellon Corp grew its stake in shares of Tactile Systems Technology by 452.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,255 shares of the company’s stock worth $2,180,000 after buying an additional 62,450 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tactile Systems Technology by 39.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after buying an additional 1,252 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Tactile Systems Technology by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 84,725 shares of the company’s stock worth $2,422,000 after buying an additional 25,336 shares during the last quarter. 72.19% of the stock is owned by hedge funds and other institutional investors.
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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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