Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 5,000 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $66.04, for a total value of $330,200.00. Following the sale, the chief operating officer now directly owns 111,654 shares in the company, valued at approximately $7,373,630.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of TCMD opened at $63.19 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of 225.68, a price-to-earnings-growth ratio of 10.02 and a beta of 2.36. Tactile Systems Technology Inc has a 12-month low of $30.21 and a 12-month high of $76.63.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Tactile Systems Technology by 22.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock worth $13,756,000 after acquiring an additional 49,350 shares during the last quarter. Arizona State Retirement System increased its stake in Tactile Systems Technology by 12.3% in the 3rd quarter. Arizona State Retirement System now owns 24,198 shares of the company’s stock worth $1,719,000 after acquiring an additional 2,644 shares during the last quarter. Wells Fargo & Company MN increased its stake in Tactile Systems Technology by 142.0% in the 3rd quarter. Wells Fargo & Company MN now owns 264,634 shares of the company’s stock worth $18,803,000 after acquiring an additional 155,289 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Tactile Systems Technology in the 3rd quarter worth approximately $399,000. Finally, Prudential Financial Inc. increased its stake in Tactile Systems Technology by 11.5% in the 3rd quarter. Prudential Financial Inc. now owns 28,105 shares of the company’s stock worth $1,997,000 after acquiring an additional 2,900 shares during the last quarter. 98.90% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on TCMD. Zacks Investment Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 5th. BidaskClub downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Canaccord Genuity lifted their target price on Tactile Systems Technology from $55.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, March 1st. ValuEngine downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 7th. Finally, Northland Securities reissued a “hold” rating and set a $38.00 target price on shares of Tactile Systems Technology in a research note on Friday, January 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.00.
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About Tactile Systems Technology
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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