Key Points
- Director William Burke sold 5,000 shares of Tactile Systems Technology for $135,000, at an average price of $27 per share. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 50,041 shares.
- The company reported quarterly EPS of $0.31, beating the $0.28 analyst consensus, while revenue of $91.86 million came in slightly below expectations of $91.99 million.
- Analysts maintain a consensus “Moderate Buy” rating and an average price target of $36.80, although BTIG lowered its target to $31 while keeping a Buy rating.
Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) Director William Burke sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. Following the sale, the director directly owned 50,041 shares of the company's stock, valued at approximately $1,351,107. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tactile Systems Technology Stock Performance
NASDAQ TCMD opened at $26.59 on Tuesday. Tactile Systems Technology, Inc. has a one year low of $20.53 and a one year high of $37.77. The company's 50 day moving average price is $23.00 and its 200 day moving average price is $25.80. The firm has a market capitalization of $594.02 million, a price-to-earnings ratio of 26.39 and a beta of 0.95.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a net margin of 6.68% and a return on equity of 10.73%. The firm had revenue of $91.86 million for the quarter, compared to analysts' expectations of $91.99 million. Sell-side analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently weighed in on TCMD. Weiss Ratings lowered shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, November 3rd. Wall Street Zen downgraded Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, BTIG Research cut their price objective on Tactile Systems Technology from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, November 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Tactile Systems Technology presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.
Get Our Latest Stock Report on TCMD
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $56,733,000. First Light Asset Management LLC acquired a new position in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $13,775,000. Renaissance Technologies LLC raised its position in shares of Tactile Systems Technology by 32.3% in the 1st quarter. Renaissance Technologies LLC now owns 510,897 shares of the company's stock valued at $13,350,000 after purchasing an additional 124,597 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $11,831,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $9,381,000. Hedge funds and other institutional investors own 83.43% of the company's stock.
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.
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