Tactile Systems Technology Inc (TCMD) COO Sells $124,575.00 in Stock

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $49.83, for a total transaction of $124,575.00. Following the completion of the sale, the chief operating officer now owns 111,654 shares of the company’s stock, valued at $5,563,718.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:TCMD traded down $2.53 during midday trading on Friday, reaching $55.49. The company had a trading volume of 296,805 shares, compared to its average volume of 284,356. The company has a current ratio of 4.96, a quick ratio of 4.59 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.09 billion, a PE ratio of 163.21, a price-to-earnings-growth ratio of 5.84 and a beta of 2.08. Tactile Systems Technology Inc has a one year low of $37.40 and a one year high of $76.63.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. Tactile Systems Technology had a net margin of 5.27% and a return on equity of 8.17%. The business had revenue of $37.60 million during the quarter, compared to analyst estimates of $33.30 million. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, equities research analysts forecast that Tactile Systems Technology Inc will post 0.5 EPS for the current fiscal year.

A number of research analysts have weighed in on the stock. Canaccord Genuity lifted their price target on shares of Tactile Systems Technology from $55.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 5th. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a research report on Tuesday, March 5th. BidaskClub raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 14th. Finally, Northland Securities reissued a “hold” rating and set a $38.00 target price on shares of Tactile Systems Technology in a research report on Friday, January 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tactile Systems Technology presently has an average rating of “Buy” and a consensus price target of $75.80.

A number of hedge funds have recently added to or reduced their stakes in TCMD. MetLife Investment Advisors LLC grew its position in shares of Tactile Systems Technology by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 12,782 shares of the company’s stock worth $908,000 after acquiring an additional 4,544 shares during the last quarter. Weiss Multi Strategy Advisers LLC grew its position in shares of Tactile Systems Technology by 9.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 11,000 shares of the company’s stock worth $501,000 after acquiring an additional 904 shares during the last quarter. Vanguard Group Inc grew its position in shares of Tactile Systems Technology by 6.8% during the third quarter. Vanguard Group Inc now owns 1,010,783 shares of the company’s stock worth $71,816,000 after acquiring an additional 63,944 shares during the last quarter. Putnam Investments LLC grew its position in shares of Tactile Systems Technology by 146.3% during the third quarter. Putnam Investments LLC now owns 91,128 shares of the company’s stock worth $6,475,000 after acquiring an additional 54,123 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Tactile Systems Technology by 20.5% during the third quarter. Legal & General Group Plc now owns 35,879 shares of the company’s stock worth $2,533,000 after acquiring an additional 6,113 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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Tactile Systems Technology Company Profile

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 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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