Insider Selling: Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Sells 1,500 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.41, for a total transaction of $45,615.00. Following the completion of the transaction, the vice president now owns 110,807 shares in the company, valued at approximately $3,369,640.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bryan Rishe also recently made the following trade(s):

  • On Thursday, August 3rd, Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.29, for a total transaction of $42,435.00.
  • On Monday, July 3rd, Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.44, for a total transaction of $42,660.00.
  • On Monday, June 5th, Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock. The shares were sold at an average price of $26.45, for a total transaction of $39,675.00.
  • On Wednesday, May 3rd, Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock. The shares were sold at an average price of $18.62, for a total transaction of $27,930.00.

Tactile Systems Technology, Inc. (TCMD) opened at 30.57 on Friday. The company has a market cap of $537.60 million and a P/E ratio of 115.80. Tactile Systems Technology, Inc. has a 52 week low of $12.17 and a 52 week high of $35.79. The stock has a 50 day moving average of $29.60 and a 200 day moving average of $22.29.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The company had revenue of $26.30 million for the quarter, compared to analyst estimates of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, analysts expect that Tactile Systems Technology, Inc. will post $0.17 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Tactile Systems Technology during the second quarter worth about $13,304,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at $12,489,000. Vanguard Group Inc. increased its stake in shares of Tactile Systems Technology by 109.6% in the first quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock valued at $5,999,000 after buying an additional 165,506 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Tactile Systems Technology by 105.8% in the second quarter. Blair William & Co. IL now owns 301,351 shares of the company’s stock valued at $8,613,000 after buying an additional 154,915 shares in the last quarter. Finally, Timpani Capital Management LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at $4,284,000. Institutional investors and hedge funds own 34.73% of the company’s stock.

Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday. Canaccord Genuity reissued a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday. Piper Jaffray Companies boosted their price objective on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, ValuEngine raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $34.00.

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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