Tactile Systems Technology (NASDAQ:TCMD) announced its earnings results on Monday. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04, Briefing.com reports. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The company had revenue of $36.30 million during the quarter, compared to the consensus estimate of $34.22 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis. Tactile Systems Technology updated its FY 2018 guidance to EPS.
Shares of NASDAQ TCMD opened at $65.16 on Tuesday. The company has a market cap of $1.22 billion, a P/E ratio of 310.29, a PEG ratio of 10.94 and a beta of 1.40. Tactile Systems Technology has a 52-week low of $22.72 and a 52-week high of $73.24.
In related news, COO Robert J. Folkes sold 3,043 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $65.29, for a total transaction of $198,677.47. Following the completion of the transaction, the chief operating officer now owns 116,279 shares in the company, valued at $7,591,855.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerald R. Mattys sold 5,558 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $62.42, for a total transaction of $346,930.36. Following the transaction, the chief executive officer now owns 299,687 shares of the company’s stock, valued at approximately $18,706,462.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,234 shares of company stock valued at $7,403,583. Corporate insiders own 8.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Tactile Systems Technology in the second quarter valued at approximately $175,000. Piedmont Investment Advisors LLC bought a new stake in shares of Tactile Systems Technology in the second quarter worth $182,000. Tealwood Asset Management Inc. bought a new stake in shares of Tactile Systems Technology in the second quarter worth $208,000. Engineers Gate Manager LP bought a new stake in shares of Tactile Systems Technology in the second quarter worth $208,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Tactile Systems Technology in the second quarter worth $208,000. Institutional investors own 93.97% of the company’s stock.
A number of brokerages have weighed in on TCMD. Canaccord Genuity boosted their target price on shares of Tactile Systems Technology from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, September 6th. BidaskClub upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Piper Jaffray Companies reiterated an “overweight” rating and set a $77.00 price target on shares of Tactile Systems Technology in a research report on Monday, September 10th. BTIG Research reiterated a “hold” rating on shares of Tactile Systems Technology in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.33.
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About Tactile Systems Technology
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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