Insider Selling: Tactile Systems Technology Inc (TCMD) Director Sells 50,000 Shares of Stock
Tactile Systems Technology Inc (NASDAQ:TCMD) Director Jordan Davis sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $30.00, for a total value of $1,500,000.00. Following the completion of the sale, the director now directly owns 5,006 shares of the company’s stock, valued at $150,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Jordan Davis also recently made the following trade(s):
- On Thursday, December 14th, Jordan Davis sold 40,000 shares of Tactile Systems Technology stock. The shares were sold at an average price of $29.52, for a total value of $1,180,800.00.
Tactile Systems Technology Inc (NASDAQ:TCMD) traded up $1.25 during trading hours on Tuesday, reaching $32.01. The company had a trading volume of 267,810 shares, compared to its average volume of 196,193. The firm has a market cap of $566.63 and a PE ratio of 100.03. Tactile Systems Technology Inc has a 1-year low of $14.37 and a 1-year high of $37.88.
A number of analysts have recently issued reports on TCMD shares. Guggenheim started coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They issued a “buy” rating and a $47.00 price objective for the company. BidaskClub raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Saturday. Northland Securities started coverage on Tactile Systems Technology in a research report on Tuesday, October 17th. They issued a “market perform” rating for the company. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, November 10th. Finally, Sidoti started coverage on Tactile Systems Technology in a research report on Friday, December 8th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.25.
A number of large investors have recently added to or reduced their stakes in TCMD. Peregrine Capital Management LLC acquired a new stake in Tactile Systems Technology during the 3rd quarter worth approximately $16,984,000. Koch Industries Inc. acquired a new stake in Tactile Systems Technology during the 2nd quarter worth approximately $217,000. Lord Abbett & CO. LLC lifted its holdings in Tactile Systems Technology by 108.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after purchasing an additional 193,429 shares during the last quarter. Pier Capital LLC acquired a new stake in Tactile Systems Technology during the 3rd quarter worth approximately $5,635,000. Finally, Cortina Asset Management LLC acquired a new stake in Tactile Systems Technology during the 3rd quarter worth approximately $5,555,000. 72.32% of the stock is owned by institutional investors and hedge funds.
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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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