Insider Selling: Tactile Systems Technology Inc (NASDAQ:TCMD) COO Sells 2,106 Shares of Stock

Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 2,106 shares of the business’s stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $68.02, for a total value of $143,250.12. Following the transaction, the chief operating officer now owns 65,218 shares in the company, valued at approximately $4,436,128.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of TCMD traded down $7.00 during mid-day trading on Monday, reaching $63.00. The company had a trading volume of 777,637 shares, compared to its average volume of 153,819. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.56 and a current ratio of 4.26. The firm has a 50-day moving average price of $66.26 and a 200 day moving average price of $54.50. Tactile Systems Technology Inc has a 52 week low of $40.62 and a 52 week high of $76.63. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 185.29, a price-to-earnings-growth ratio of 9.36 and a beta of 2.17.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $45.47 million. Tactile Systems Technology had a return on equity of 9.41% and a net margin of 5.06%. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, research analysts forecast that Tactile Systems Technology Inc will post 0.61 earnings per share for the current fiscal year.

TCMD has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday. Piper Jaffray Companies initiated coverage on Tactile Systems Technology in a report on Monday, November 18th. They set a “buy” rating and a $70.00 target price on the stock. Oppenheimer initiated coverage on Tactile Systems Technology in a report on Tuesday, October 22nd. They set a “market perform” rating on the stock. BTIG Research reiterated a “positive” rating and set a $72.00 target price on shares of Tactile Systems Technology in a report on Thursday, December 12th. Finally, BidaskClub downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $71.57.

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new position in Tactile Systems Technology in the 1st quarter valued at approximately $25,000. Alberta Investment Management Corp bought a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $222,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Tactile Systems Technology by 12.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,690 shares of the company’s stock valued at $241,000 after buying an additional 610 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of Tactile Systems Technology by 12.6% during the 3rd quarter. Mason Street Advisors LLC now owns 6,441 shares of the company’s stock valued at $273,000 after buying an additional 722 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Tactile Systems Technology by 9.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the company’s stock valued at $296,000 after buying an additional 600 shares during the period. 98.64% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What is the S&P/ASX 200 Index?

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.