Tactile Systems Technology Inc (TCMD) COO Robert J. Folkes Sells 23,190 Shares

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 23,190 shares of Tactile Systems Technology stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $53.18, for a total transaction of $1,233,244.20. Following the completion of the transaction, the chief operating officer now directly owns 127,551 shares in the company, valued at $6,783,162.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ TCMD traded up $1.50 on Thursday, hitting $55.88. The stock had a trading volume of 164,772 shares, compared to its average volume of 226,353. Tactile Systems Technology Inc has a 52-week low of $26.50 and a 52-week high of $73.24. The firm has a market capitalization of $984.77 million, a P/E ratio of 266.10, a P/E/G ratio of 11.59 and a beta of 1.40.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business had revenue of $36.30 million for the quarter, compared to analyst estimates of $34.22 million. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. On average, analysts forecast that Tactile Systems Technology Inc will post 0.23 EPS for the current year.

Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 27th. BidaskClub lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price target (up from $60.00) on shares of Tactile Systems Technology in a report on Tuesday, August 7th. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, November 6th. Finally, TheStreet lowered shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.33.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Tactile Systems Technology by 12.1% during the third quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the company’s stock valued at $526,000 after buying an additional 800 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of Tactile Systems Technology by 9.7% during the third quarter. Texas Permanent School Fund now owns 10,496 shares of the company’s stock valued at $746,000 after buying an additional 931 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of Tactile Systems Technology by 57.1% during the third quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock valued at $192,000 after buying an additional 980 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Tactile Systems Technology by 3.4% during the third quarter. Rhumbline Advisers now owns 39,080 shares of the company’s stock valued at $2,777,000 after buying an additional 1,300 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Tactile Systems Technology by 30.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 5,818 shares of the company’s stock valued at $303,000 after buying an additional 1,353 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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