Tactile Systems Technology Inc (NASDAQ:TCMD) CEO Gerald R. Mattys sold 6,150 shares of Tactile Systems Technology stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $29.23, for a total transaction of $179,764.50. Following the completion of the sale, the chief executive officer now owns 303,181 shares in the company, valued at $8,861,980.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Tactile Systems Technology Inc (TCMD) traded up $0.24 during mid-day trading on Thursday, hitting $29.59. 152,074 shares of the company’s stock were exchanged, compared to its average volume of 171,717. Tactile Systems Technology Inc has a one year low of $14.37 and a one year high of $37.88. The company has a market cap of $523.80 and a P/E ratio of 92.47.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $28.28 million for the quarter, compared to the consensus estimate of $27.66 million. During the same period in the previous year, the firm earned $0.01 EPS. Tactile Systems Technology’s revenue was up 25.0% on a year-over-year basis. sell-side analysts predict that Tactile Systems Technology Inc will post 0.34 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Tactile Systems Technology by 39.3% during 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 in the last quarter. Nationwide Fund Advisors raised its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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 in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Tactile Systems Technology during the 2nd quarter worth about $266,000. Finally, Rhumbline Advisers bought a new stake in shares of Tactile Systems Technology during the 2nd quarter worth about $267,000. Institutional investors own 72.19% of the company’s stock.
TCMD has been the topic of several recent research reports. Sidoti initiated coverage on shares of Tactile Systems Technology in a research report on Friday, December 8th. They issued a “neutral” rating on the stock. Guggenheim initiated 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 objective 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 objective on the stock in a research report on Friday, November 10th. BTIG Research upgraded shares of 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. Finally, BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Tactile Systems Technology presently has a consensus rating of “Buy” and a consensus price target of $34.25.
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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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