Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.36, for a total value of $175,900.00. Following the completion of the transaction, the chief operating officer now owns 111,654 shares in the company, valued at $7,855,975.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
NASDAQ TCMD traded up $0.43 on Thursday, hitting $62.93. 301,218 shares of the company traded hands, compared to its average volume of 271,254. The company has a market capitalization of $1.24 billion, a PE ratio of 224.75, a price-to-earnings-growth ratio of 10.02 and a beta of 2.36. Tactile Systems Technology Inc has a 52-week low of $30.21 and a 52-week high of $76.63.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Tactile Systems Technology by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 195,598 shares of the company’s stock valued at $8,908,000 after purchasing an additional 20,284 shares in the last quarter. HRT Financial LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at about $304,000. Macquarie Group Ltd. lifted its position in shares of Tactile Systems Technology by 2.9% in the fourth quarter. Macquarie Group Ltd. now owns 47,676 shares of the company’s stock valued at $2,172,000 after acquiring an additional 1,337 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Tactile Systems Technology by 1.0% in the fourth quarter. Legal & General Group Plc now owns 36,235 shares of the company’s stock valued at $1,629,000 after acquiring an additional 356 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Tactile Systems Technology by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 351,083 shares of the company’s stock valued at $15,992,000 after acquiring an additional 1,472 shares in the last quarter. Institutional investors own 98.90% of the company’s stock.
Several equities analysts recently weighed in on TCMD shares. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. ValuEngine upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Piper Jaffray Companies lifted their target price on Tactile Systems Technology to $80.00 and gave the company a “positive” rating in a research report on Monday, January 7th. Northland Securities reiterated a “hold” rating and set a $38.00 target price on shares of Tactile Systems Technology in a research report on Friday, January 11th. Finally, BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $70.00.
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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 proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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