Tactile Systems Technology Inc (TCMD) COO Robert J. Folkes Sells 3,043 Shares

Share on StockTwits

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 3,043 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $65.29, for a total value of $198,677.47. Following the sale, the chief operating officer now directly owns 116,279 shares in the company, valued at $7,591,855.91. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of NASDAQ TCMD traded down $1.18 during trading hours on Monday, hitting $65.16. 280,800 shares of the company traded hands, compared to its average volume of 227,403. The company has a market cap of $1.22 billion, a P/E ratio of 310.29, a P/E/G ratio of 10.94 and a beta of 1.40. Tactile Systems Technology Inc has a 12 month low of $22.72 and a 12 month high of $73.24.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The firm 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 company’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. On average, research analysts expect that Tactile Systems Technology Inc will post 0.3 EPS for the current fiscal year.

Several analysts have recently issued reports on the company. Zacks Investment Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 27th. BidaskClub cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $65.00 price objective (up from $60.00) on shares of Tactile Systems Technology in a report on Tuesday, August 7th. TheStreet cut Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $77.00 target price on shares of Tactile Systems Technology in a research report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $67.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Tactile Systems Technology by 31.8% during the 2nd quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock valued at $122,266,000 after purchasing an additional 566,881 shares during the last quarter. Fred Alger Management Inc. increased its position in shares of Tactile Systems Technology by 16.2% during the 2nd quarter. Fred Alger Management Inc. now owns 748,638 shares of the company’s stock valued at $38,929,000 after purchasing an additional 104,208 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Tactile Systems Technology by 5.3% during the 2nd quarter. Janus Henderson Group PLC now owns 628,863 shares of the company’s stock valued at $32,701,000 after purchasing an additional 31,714 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Tactile Systems Technology by 142.0% during the 3rd quarter. Wells Fargo & Company MN now owns 264,634 shares of the company’s stock valued at $18,803,000 after purchasing an additional 155,289 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Tactile Systems Technology by 22.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock valued at $13,756,000 after purchasing an additional 49,350 shares during the last quarter. 93.97% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally published by Macon Daily and is the property of of Macon Daily. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark law. The correct version of this article can be read at https://macondaily.com/2018/11/05/tactile-systems-technology-inc-tcmd-coo-robert-j-folkes-sells-3043-shares.html.

About Tactile Systems Technology

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.

Featured Story: Swap

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

Receive News & Ratings for Tactile Systems Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply