Key Points
- Director Laura King sold 4,800 shares for $120,000, reducing her direct stake by 18.77%; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Tactile Systems Technology reported quarterly EPS of $0.31, above the $0.28 consensus, while revenue of $91.86 million came in slightly below expectations.
- Analyst views were mixed: BTIG cut its price target from $35 to $31 while maintaining a Buy rating, and MarketBeat’s consensus remained Moderate Buy with a $36.80 average target.
Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) Director Laura King sold 4,800 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $25.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 20,769 shares of the company's stock, valued at approximately $519,225. This represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tactile Systems Technology Trading Down 3.0%
Shares of TCMD opened at $26.37 on Friday. The stock has a 50 day moving average of $22.87 and a 200 day moving average of $25.84. The company has a market capitalization of $589.11 million, a price-to-earnings ratio of 26.39 and a beta of 0.95. Tactile Systems Technology, Inc. has a 12 month low of $20.53 and a 12 month high of $37.77.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $91.86 million for the quarter, compared to analysts' expectations of $91.99 million. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. As a group, equities research analysts predict that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.
Tactile Systems Technology News Summary
Here are the key news stories impacting Tactile Systems Technology this week:
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on TCMD shares. Wall Street Zen upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 31st. Weiss Ratings lowered shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, BTIG Research dropped their target price on shares of Tactile Systems Technology from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Tactile Systems Technology has a consensus rating of "Moderate Buy" and an average target price of $36.80.
Check Out Our Latest Report on Tactile Systems Technology
Hedge Funds Weigh In On Tactile Systems Technology
Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its position in Tactile Systems Technology by 1.3% in the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company's stock worth $1,401,000 after buying an additional 684 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Tactile Systems Technology by 24.3% during the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company's stock valued at $107,000 after buying an additional 704 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Tactile Systems Technology by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company's stock valued at $425,000 after buying an additional 749 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Tactile Systems Technology by 0.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company's stock valued at $7,310,000 after buying an additional 850 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock worth $98,000 after acquiring an additional 876 shares during the period. 83.43% of the stock is owned by institutional investors.
Tactile Systems Technology Company Profile
(
Get Free Report)
Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.
Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.
Further Reading
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