Tactile Systems Technology, Inc. (TCMD) Major Shareholder Radius Venture Partners Iii, L Sells 1,000,500 Shares
Tactile Systems Technology, Inc. (NASDAQ:TCMD) major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $31.02, for a total value of $31,035,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) traded down 3.15% during trading on Friday, hitting $35.63. The stock had a trading volume of 353,987 shares. The stock has a market cap of $626.59 million, a price-to-earnings ratio of 134.96 and a beta of 0.35. Tactile Systems Technology, Inc. has a 12 month low of $14.37 and a 12 month high of $37.88. The company’s 50 day moving average price is $32.53 and its 200 day moving average price is $25.22.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. The firm had revenue of $26.30 million for the quarter, compared to the consensus estimate of $23.88 million. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts expect that Tactile Systems Technology, Inc. will post $0.28 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Tactile Systems Technology by 39.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after acquiring an additional 1,252 shares during the last quarter. Nationwide Fund Advisors lifted its position 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 acquiring an additional 3,457 shares during the period. Bank of New York Mellon Corp lifted its position in Tactile Systems Technology by 33.7% during the 1st quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after acquiring an additional 3,480 shares during the period. Bank of Montreal Can acquired a new stake in Tactile Systems Technology during the 2nd quarter worth approximately $146,000. Finally, Bank of America Corp DE lifted its position 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 acquiring an additional 6,409 shares during the period. Institutional investors and hedge funds own 46.00% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Piper Jaffray Companies increased their target price on Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded 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 four have assigned a buy rating to the stock. Tactile Systems Technology presently has a consensus rating of “Buy” and a consensus price target of $34.00.
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.
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