Tactile Systems Technology Inc (TCMD) CEO Sells $677,615.84 in Stock

Tactile Systems Technology Inc (NASDAQ:TCMD) CEO Gerald R. Mattys sold 23,056 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $29.39, for a total transaction of $677,615.84. Following the transaction, the chief executive officer now owns 309,331 shares of the company’s stock, valued at approximately $9,091,238.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Tactile Systems Technology Inc (TCMD) traded down $0.50 during mid-day trading on Wednesday, reaching $29.08. 103,652 shares of the company’s stock were exchanged, compared to its average volume of 125,900. The firm has a market capitalization of $523.62 and a PE ratio of 90.88. Tactile Systems Technology Inc has a 12-month low of $14.37 and a 12-month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $28.28 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. equities research analysts forecast that Tactile Systems Technology Inc will post 0.34 earnings per share for the current fiscal year.

Several brokerages recently commented on TCMD. Canaccord Genuity restated a “buy” rating and set a $37.00 target price on shares of Tactile Systems Technology in a report on Wednesday. Northland Securities restated a “hold” rating and set a $31.50 target price on shares of Tactile Systems Technology in a report on Monday, October 16th. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, BTIG Research upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Tactile Systems Technology has an average rating of “Buy” and a consensus price target of $34.25.

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Tactile Systems Technology by 39.3% in 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 during the last quarter. Bank of Montreal Can bought a new position in shares of Tactile Systems Technology in the second quarter valued at about $146,000. Nationwide Fund Advisors raised its position in shares of Tactile Systems Technology by 201.8% in 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 period. Bank of America Corp DE raised its position in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after purchasing an additional 6,409 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Tactile Systems Technology by 10,882.4% in 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 period. Hedge funds and other institutional investors own 71.68% of the company’s stock.

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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.

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