Tactile Systems Technology Inc (NASDAQ:TCMD) SVP Maggie Thompson sold 18,793 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $51.00, for a total transaction of $958,443.00. Following the completion of the transaction, the senior vice president now directly owns 11,553 shares in the company, valued at approximately $589,203. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of TCMD opened at $62.13 on Friday. Tactile Systems Technology Inc has a twelve month low of $27.87 and a twelve month high of $73.24. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 295.86, a P/E/G ratio of 13.87 and a beta of 1.74.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The firm had revenue of $36.30 million for the quarter, compared to analyst estimates of $34.22 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was up 28.3% on a year-over-year basis. On average, equities research analysts expect that Tactile Systems Technology Inc will post 0.24 EPS for the current year.
A number of brokerages have weighed in on TCMD. Northland Securities reaffirmed a “hold” rating and issued a $38.00 price target on shares of Tactile Systems Technology in a research note on Friday. BidaskClub raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 27th. Finally, ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $65.50.
Several hedge funds have recently made changes to their positions in TCMD. Rhumbline Advisers lifted its position in shares of Tactile Systems Technology by 18.4% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $1,965,000 after purchasing an additional 5,873 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Tactile Systems Technology by 22.9% in the second quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock worth $13,756,000 after purchasing an additional 49,350 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Tactile Systems Technology in the second quarter worth $175,000. Schwab Charles Investment Management Inc. lifted its position in shares of Tactile Systems Technology by 17.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 82,575 shares of the company’s stock worth $4,294,000 after purchasing an additional 12,441 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Tactile Systems Technology by 11.3% in the second quarter. Swiss National Bank now owns 26,700 shares of the company’s stock worth $1,388,000 after purchasing an additional 2,700 shares in the last quarter. 95.59% of the stock is currently owned by institutional investors and hedge funds.
Tactile Systems Technology Company Profile
Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.
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