Insider Selling: Tactile Systems Technology, Inc. (TCMD) CEO Sells 40,000 Shares of Stock
Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Gerald R. Mattys sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $27.00, for a total transaction of $1,080,000.00. Following the sale, the chief executive officer now owns 334,013 shares of the company’s stock, valued at approximately $9,018,351. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Tactile Systems Technology, Inc. (TCMD) traded up $2.24 on Tuesday, hitting $28.22. 1,653,500 shares of the stock traded hands, compared to its average volume of 188,775. The stock has a market capitalization of $491.58 and a P/E ratio of 173.20. Tactile Systems Technology, Inc. has a 52-week low of $14.37 and a 52-week high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $28.28 million during the quarter, compared to the consensus estimate of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. analysts anticipate that Tactile Systems Technology, Inc. will post 0.31 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Tactile Systems Technology by 39.3% during the second 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 in the last quarter. Bank of Montreal Can purchased a new position in Tactile Systems Technology during the second quarter valued at approximately $146,000. Nationwide Fund Advisors grew its stake in Tactile Systems Technology by 201.8% during the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after acquiring an additional 3,457 shares in the last quarter. Bank of America Corp DE grew its stake in Tactile Systems Technology by 1,118.5% during the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after acquiring an additional 6,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Tactile Systems Technology by 10,882.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after acquiring an additional 7,400 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.
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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