Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Jordan Davis sold 40,000 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $29.52, for a total transaction of $1,180,800.00. Following the sale, the director now owns 5,006 shares of the company’s stock, valued at approximately $147,777.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) traded down $0.49 during mid-day trading on Friday, hitting $28.90. 198,700 shares of the stock were exchanged, compared to its average volume of 204,527. The company has a market capitalization of $520.26, a price-to-earnings ratio of 195.93, a PEG ratio of 4.39 and a beta of -0.69. Tactile Systems Technology, Inc. has a twelve month low of $14.37 and a twelve month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $28.28 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. analysts forecast that Tactile Systems Technology, Inc. will post 0.34 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Peregrine Capital Management LLC bought a new stake in Tactile Systems Technology during the third quarter worth $16,984,000. Russell Investments Group Ltd. raised its position in Tactile Systems Technology by 12.2% during the third quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock worth $16,157,000 after acquiring an additional 56,565 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Tactile Systems Technology by 6.8% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock worth $14,451,000 after acquiring an additional 29,912 shares in the last quarter. Vanguard Group Inc. raised its position in Tactile Systems Technology by 18.8% during the second quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock worth $10,750,000 after acquiring an additional 59,595 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Tactile Systems Technology by 108.3% during the second quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after acquiring an additional 193,429 shares in the last quarter. 71.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on TCMD. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Guggenheim began coverage on shares of Tactile Systems Technology in a report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective for the company. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Friday, November 10th. Northland Securities assumed coverage on shares of Tactile Systems Technology in a report on Tuesday, October 17th. They set a “market perform” rating for the company. Finally, Sidoti assumed coverage on shares of Tactile Systems Technology in a research note on Friday, December 8th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $34.25.

ILLEGAL ACTIVITY WARNING: “Jordan Davis Sells 40,000 Shares of Tactile Systems Technology, Inc. (TCMD) Stock” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/15/jordan-davis-sells-40000-shares-of-tactile-systems-technology-inc-tcmd-stock.html.

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)

Receive News & Ratings for Tactile Systems Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology and related companies with MarketBeat.com's FREE daily email newsletter.