Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) dropped 9.2% during mid-day trading on Friday following insider selling activity. The company traded as low as $30.63 and last traded at $30.86. Approximately 705,681 shares changed hands during trading, an increase of 245% from the average daily volume of 204,444 shares. The stock had previously closed at $33.98.

Specifically, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $28.29, for a total value of $42,435.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert J. Folkes sold 2,955 shares of Tactile Systems Technology stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $28.16, for a total value of $83,212.80. Following the completion of the transaction, the chief operating officer now directly owns 134,292 shares of the company’s stock, valued at $3,781,662.72. The disclosure for this sale can be found here. Insiders have sold a total of 1,278,547 shares of company stock worth $39,268,171 over the last ninety days. Company insiders own 49.90% of the company’s stock.

Several research firms have recently weighed in on TCMD. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, August 10th. ValuEngine raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective (up from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Finally, Piper Jaffray Companies lifted their price objective on Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

The firm has a market capitalization of $542.70 million, a PE ratio of 116.89 and a beta of 0.35. The firm has a 50-day moving average of $32.90 and a 200-day moving average of $25.64.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $26.30 million during the quarter, compared to analyst estimates of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. Tactile Systems Technology’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. On average, equities research analysts predict that Tactile Systems Technology, Inc. will post $0.28 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of TCMD. Wells Fargo & Company MN boosted its holdings in shares of Tactile Systems Technology by 1,896.9% during the first quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock worth $1,125,000 after purchasing an additional 56,415 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Tactile Systems Technology by 33.7% during the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after purchasing an additional 3,480 shares during the period. Trexquant Investment LP purchased a new stake in shares of Tactile Systems Technology during the first quarter worth about $224,000. EAM Investors LLC boosted its holdings in shares of Tactile Systems Technology by 15.4% during the first quarter. EAM Investors LLC now owns 70,449 shares of the company’s stock worth $1,335,000 after purchasing an additional 9,383 shares during the period. Finally, Spark Investment Management LLC boosted its holdings in shares of Tactile Systems Technology by 29.7% during the first quarter. Spark Investment Management LLC now owns 94,000 shares of the company’s stock worth $1,781,000 after purchasing an additional 21,500 shares during the period. Institutional investors own 45.65% of the company’s stock.

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Tactile Systems Technology Company Profile

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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