Tactile Systems Technology Inc (TCMD) CEO Sells $179,764.50 in Stock

Tactile Systems Technology Inc (NASDAQ:TCMD) CEO Gerald R. Mattys sold 6,150 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $29.23, for a total transaction of $179,764.50. Following the sale, the chief executive officer now directly owns 303,181 shares of the company’s stock, valued at approximately $8,861,980.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) opened at $31.15 on Friday. Tactile Systems Technology Inc has a 52 week low of $14.37 and a 52 week high of $37.88. The company has a market cap of $551.42, a P/E ratio of 207.67, a PEG ratio of 6.97 and a beta of -0.60.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The business had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $27.66 million. During the same period in the prior year, the firm earned $0.01 earnings per share. Tactile Systems Technology’s revenue was up 25.0% compared to the same quarter last year. equities analysts anticipate that Tactile Systems Technology Inc will post 0.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 1,252 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of 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 purchasing an additional 3,457 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 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 purchasing an additional 7,400 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $217,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $266,000. 72.19% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on TCMD. BidaskClub raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price objective on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Sidoti initiated coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Friday, November 10th. Finally, BTIG Research raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, November 9th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $34.25.

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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.

Insider Buying and Selling by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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