Insider Buying: Tactile Systems Technology, Inc. (TCMD) Director Purchases 1,000 Shares of Stock
Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Cheryl Pegus acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was bought at an average price of $27.86 per share, with a total value of $27,860.00. Following the purchase, the director now directly owns 2,184 shares in the company, valued at approximately $60,846.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Tactile Systems Technology, Inc. (NASDAQ:TCMD) traded down $0.49 on Thursday, reaching $28.90. The company’s stock had a trading volume of 198,779 shares, compared to its average volume of 204,527. The firm has a market capitalization of $510.75 and a price-to-earnings ratio of 188.93. 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 released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. research analysts expect that Tactile Systems Technology, Inc. will post 0.34 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. JPMorgan Chase & Co. increased its position in Tactile Systems Technology by 39.3% during the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after buying an additional 1,252 shares during the period. Bank of America Corp DE increased its position 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 worth $133,000 after buying an additional 6,409 shares during the period. Bank of Montreal Can acquired a new position in Tactile Systems Technology during the second quarter worth approximately $146,000. Nationwide Fund Advisors increased its position in Tactile Systems Technology by 201.8% during the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after buying an additional 3,457 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position 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 worth $213,000 after buying an additional 7,400 shares during the period. 71.68% of the stock is currently owned by institutional investors.
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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