Tactile Systems Technology, Inc. (TCMD) Director William W. Burke Sells 2,000 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William W. Burke sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $28.86, for a total value of $57,720.00. Following the sale, the director now owns 6,306 shares of the company’s stock, valued at approximately $181,991.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Tactile Systems Technology, Inc. (TCMD) traded down $0.82 during trading on Wednesday, reaching $27.19. The company had a trading volume of 176,200 shares, compared to its average volume of 204,071. Tactile Systems Technology, Inc. has a 1-year low of $14.37 and a 1-year high of $37.88. The company has a market capitalization of $495.83, a P/E ratio of 186.73, a P/E/G ratio of 4.59 and a beta of -0.69.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The business had revenue of $28.28 million during the quarter, compared to the consensus estimate of $27.66 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Tactile Systems Technology’s revenue was up 25.0% compared to the same quarter last year. sell-side analysts expect that Tactile Systems Technology, Inc. will post 0.31 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Menta Capital LLC grew its holdings in Tactile Systems Technology by 66.9% during the second quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock worth $806,000 after buying an additional 11,300 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tactile Systems Technology by 17.2% during the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock worth $1,339,000 after buying an additional 10,377 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Tactile Systems Technology by 237.1% during the second quarter. TIAA CREF Investment Management LLC now owns 24,897 shares of the company’s stock worth $712,000 after buying an additional 17,512 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in Tactile Systems Technology during the second quarter worth $1,723,000. Finally, Peregrine Capital Management LLC bought a new stake in Tactile Systems Technology during the third quarter worth $16,984,000. Institutional investors and hedge funds own 71.68% of the company’s stock.

Several equities research analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. BTIG Research upgraded 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. Northland Securities restated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a report on Monday, October 16th. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Guggenheim assumed coverage on Tactile Systems Technology in a report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. 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.

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