Robert J. Folkes Sells 2,106 Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) Stock

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 2,106 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $56.02, for a total value of $117,978.12. Following the completion of the transaction, the chief operating officer now owns 94,702 shares of the company’s stock, valued at approximately $5,305,206.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

TCMD opened at $52.50 on Thursday. The firm’s fifty day simple moving average is $52.09. Tactile Systems Technology Inc has a 52-week low of $37.40 and a 52-week high of $76.63. The company has a current ratio of 4.96, a quick ratio of 4.30 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.02 billion, a PE ratio of 154.41, a P/E/G ratio of 5.23 and a beta of 1.97.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.20. Tactile Systems Technology had a return on equity of 8.17% and a net margin of 5.27%. The company had revenue of $37.60 million during the quarter, compared to analysts’ expectations of $33.30 million. The company’s revenue was up 40.3% on a year-over-year basis. Sell-side analysts anticipate that Tactile Systems Technology Inc will post 0.52 EPS for the current fiscal year.

TCMD has been the subject of a number of recent research reports. Canaccord Genuity lifted their target price on Tactile Systems Technology from $55.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, March 1st. BTIG Research reiterated a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, March 5th. Zacks Investment Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Northland Securities restated a “hold” rating and set a $50.00 price objective on shares of Tactile Systems Technology in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.50.

A number of institutional investors and hedge funds have recently bought and sold shares of TCMD. Jennison Associates LLC raised its position in Tactile Systems Technology by 2.0% during the 4th quarter. Jennison Associates LLC now owns 8,394 shares of the company’s stock valued at $382,000 after purchasing an additional 161 shares in the last quarter. Bank of Montreal Can raised its position in Tactile Systems Technology by 3.4% during the 4th quarter. Bank of Montreal Can now owns 4,987 shares of the company’s stock valued at $227,000 after purchasing an additional 162 shares in the last quarter. Mason Street Advisors LLC raised its position in Tactile Systems Technology by 4.9% during the 1st quarter. Mason Street Advisors LLC now owns 5,477 shares of the company’s stock valued at $289,000 after purchasing an additional 256 shares in the last quarter. Neuburgh Advisers LLC raised its position in Tactile Systems Technology by 22.2% during the 4th quarter. Neuburgh Advisers LLC now owns 1,760 shares of the company’s stock valued at $80,000 after purchasing an additional 320 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Tactile Systems Technology by 2.1% during the 1st quarter. New York State Teachers Retirement System now owns 15,962 shares of the company’s stock valued at $842,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 99.65% of the company’s stock.

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 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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