Tactile Systems Technology Inc (NASDAQ:TCMD) SVP Maggie Thompson sold 30,889 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $54.19, for a total transaction of $1,673,874.91. Following the sale, the senior vice president now directly owns 82,328 shares in the company, valued at approximately $4,461,354.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Tactile Systems Technology stock traded up $0.95 during trading on Tuesday, hitting $54.59. The stock had a trading volume of 242,000 shares, compared to its average volume of 226,736. The stock has a market cap of $949.80 million, a P/E ratio of 260.33, a PEG ratio of 7.30 and a beta of 0.85. Tactile Systems Technology Inc has a 12 month low of $22.72 and a 12 month high of $57.60.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 7th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.13. The firm had revenue of $26.85 million for the quarter, compared to analysts’ expectations of $23.72 million. Tactile Systems Technology had a net margin of 6.29% and a return on equity of 7.86%. The business’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. equities research analysts forecast that Tactile Systems Technology Inc will post 0.36 EPS for the current year.
A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Friday. Canaccord Genuity upped their price target on shares of Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, June 4th. They noted that the move was a valuation call. Piper Jaffray Companies upped their price target on shares of Tactile Systems Technology to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Finally, Northland Securities cut shares of Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Tactile Systems Technology has an average rating of “Hold” and a consensus price target of $48.30.
Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $1,464,000. Cortina Asset Management LLC increased its stake in Tactile Systems Technology by 280.0% in the fourth quarter. Cortina Asset Management LLC now owns 681,966 shares of the company’s stock valued at $19,763,000 after acquiring an additional 502,497 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Tactile Systems Technology by 118.5% in the fourth quarter. Bank of New York Mellon Corp now owns 173,181 shares of the company’s stock valued at $5,018,000 after acquiring an additional 93,934 shares during the last quarter. Rhumbline Advisers increased its stake in Tactile Systems Technology by 11.4% in the first quarter. Rhumbline Advisers now owns 31,907 shares of the company’s stock valued at $1,015,000 after acquiring an additional 3,273 shares during the last quarter. Finally, Swiss National Bank bought a new position in Tactile Systems Technology in the fourth quarter valued at $696,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
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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