Tactile Systems Technology (TCMD) Sets New 52-Week High at $70.40

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Tactile Systems Technology Inc (NASDAQ:TCMD) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.40 and last traded at $69.95, with a volume of 12037 shares traded. The stock had previously closed at $67.91.

Several research analysts have recently commented on the company. BidaskClub downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. Zacks Investment Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 11th. TheStreet downgraded Tactile Systems Technology from a “c+” rating to a “d+” rating in a research note on Monday, August 20th. Canaccord Genuity raised their price objective on Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. Finally, Northland Securities downgraded Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a research note on Monday, June 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.30.

The company has a market cap of $1.24 billion, a PE ratio of 327.48, a P/E/G ratio of 9.53 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $34.10 million for the quarter, compared to the consensus estimate of $31.49 million. Tactile Systems Technology had a return on equity of 8.41% and a net margin of 4.91%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. sell-side analysts forecast that Tactile Systems Technology Inc will post 0.36 EPS for the current year.

In related news, SVP Maggie Thompson sold 30,889 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $54.19, for a total transaction of $1,673,874.91. Following the sale, the senior vice president now owns 82,328 shares of the company’s stock, valued at approximately $4,461,354.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Rishe sold 3,000 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $55.35, for a total value of $166,050.00. Following the sale, the senior vice president now directly owns 85,928 shares in the company, valued at approximately $4,756,114.80. The disclosure for this sale can be found here. Insiders have sold a total of 127,405 shares of company stock worth $6,999,819 in the last three months. 8.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY raised its stake in Tactile Systems Technology by 30.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,818 shares of the company’s stock valued at $303,000 after purchasing an additional 1,353 shares during the period. Perkins Capital Management Inc. grew its holdings in Tactile Systems Technology by 3.3% during the 2nd quarter. Perkins Capital Management Inc. now owns 52,624 shares of the company’s stock valued at $2,736,000 after buying an additional 1,700 shares in the last quarter. Legal & General Group Plc grew its holdings in Tactile Systems Technology by 7.0% during the 1st quarter. Legal & General Group Plc now owns 27,074 shares of the company’s stock valued at $853,000 after buying an additional 1,769 shares in the last quarter. Swiss National Bank grew its holdings in Tactile Systems Technology by 11.3% during the 2nd quarter. Swiss National Bank now owns 26,700 shares of the company’s stock valued at $1,388,000 after buying an additional 2,700 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Tactile Systems Technology by 11.4% during the 1st quarter. Rhumbline Advisers now owns 31,907 shares of the company’s stock valued at $1,015,000 after buying an additional 3,273 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

About Tactile Systems Technology (NASDAQ:TCMD)

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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