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

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 1,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $30.48, for a total transaction of $45,720.00. Following the completion of the sale, the chief operating officer now owns 118,277 shares of the company’s stock, valued at approximately $3,605,082.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Tactile Systems Technology Inc (NASDAQ TCMD) traded up $0.07 during trading hours on Friday, hitting $28.61. 218,388 shares of the company were exchanged, compared to its average volume of 192,403. The stock has a market cap of $505.21 and a PE ratio of 89.41. Tactile Systems Technology Inc has a 1 year low of $14.98 and a 1 year high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. analysts forecast that Tactile Systems Technology Inc will post 0.34 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of 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 period. Cadence Capital Management LLC boosted its position in shares of Tactile Systems Technology by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 46,436 shares of the company’s stock worth $1,437,000 after purchasing an additional 2,246 shares during the period. The Manufacturers Life Insurance Company boosted its position in Tactile Systems Technology by 34.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,001 shares of the company’s stock valued at $290,000 after buying an additional 2,536 shares during the period. Bank of New York Mellon Corp boosted its position in Tactile Systems Technology by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 79,247 shares of the company’s stock valued at $2,453,000 after buying an additional 2,992 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after buying an additional 3,457 shares during the period. 73.76% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on TCMD shares. Sidoti started coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They issued a “neutral” rating for the company. Guggenheim assumed coverage on shares of Tactile Systems Technology in a report on Thursday, October 12th. They set a “buy” rating and a $47.00 price target for the company. BidaskClub downgraded shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Friday, November 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price objective on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $34.25.

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Tactile Systems Technology Company Profile

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.

Insider Buying and Selling by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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