Tactile Systems Technology, Inc. (TCMD) COO Sells $95,919.30 in Stock
Tactile Systems Technology, Inc. (NASDAQ:TCMD) COO Robert J. Folkes sold 2,955 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $32.46, for a total transaction of $95,919.30. Following the transaction, the chief operating officer now owns 136,292 shares of the company’s stock, valued at approximately $4,424,038.32. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Robert J. Folkes also recently made the following trade(s):
- On Wednesday, August 9th, Robert J. Folkes sold 1,500 shares of Tactile Systems Technology stock. The shares were sold at an average price of $32.54, for a total transaction of $48,810.00.
Tactile Systems Technology, Inc. (TCMD) traded up 0.33% during trading on Wednesday, hitting $33.87. 89,801 shares of the stock traded hands. The stock has a market cap of $595.64 million, a P/E ratio of 128.30 and a beta of 0.35. Tactile Systems Technology, Inc. has a 52 week low of $14.37 and a 52 week high of $35.79. The firm’s 50-day moving average is $31.54 and its 200 day moving average is $24.47.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $23.88 million. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. Equities research analysts forecast that Tactile Systems Technology, Inc. will post $0.28 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on TCMD. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Piper Jaffray Companies raised their price objective on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Tactile Systems Technology currently has an average rating of “Buy” and a consensus price target of $34.00.
A number of large investors have recently made changes to their positions in TCMD. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 1,252 shares during the last quarter. Bank of America Corp DE raised its holdings in Tactile Systems Technology by 1,118.5% during the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock worth $133,000 after purchasing an additional 6,409 shares during the last quarter. Bank of Montreal Can bought a new stake in Tactile Systems Technology during the 2nd quarter worth about $146,000. Nationwide Fund Advisors raised its holdings in 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 purchasing an additional 3,457 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in 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 purchasing an additional 7,400 shares during the last quarter. 46.00% of the stock is owned by hedge funds and other institutional investors.
About Tactile Systems Technology
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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