Tactile Systems Technology Inc (NASDAQ:TCMD) COO Robert J. Folkes sold 2,482 shares of Tactile Systems Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $31.15, for a total transaction of $77,314.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Tactile Systems Technology Inc (NASDAQ:TCMD) traded down $1.20 during mid-day trading on Tuesday, hitting $29.93. 146,993 shares of the company were exchanged, compared to its average volume of 187,681. Tactile Systems Technology Inc has a 52-week low of $16.10 and a 52-week high of $37.88. The stock has a market cap of $551.06 and a PE ratio of 93.53.
Several hedge funds have recently added to or reduced their stakes in TCMD. BlackRock Inc. boosted its stake in shares of Tactile Systems Technology by 197.1% during the 4th quarter. BlackRock Inc. now owns 1,705,703 shares of the company’s stock worth $49,431,000 after purchasing an additional 1,131,497 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Tactile Systems Technology during the 3rd quarter worth about $16,984,000. Cortina Asset Management LLC boosted its stake in shares of Tactile Systems Technology by 280.0% during the 4th quarter. Cortina Asset Management LLC now owns 681,966 shares of the company’s stock worth $19,763,000 after purchasing an additional 502,497 shares during the period. Thrivent Financial For Lutherans purchased a new position in shares of Tactile Systems Technology during the 4th quarter worth about $13,969,000. Finally, Fred Alger Management Inc. purchased a new position in shares of Tactile Systems Technology during the 4th quarter worth about $11,653,000. 84.94% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. BTIG Research raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, November 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of 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 note on Friday, November 10th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective on shares of Tactile Systems Technology in a research note on Wednesday, January 3rd. Finally, Sidoti assumed coverage on shares of Tactile Systems Technology in a research note 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 assigned a buy rating and one has given a strong buy rating to the stock. Tactile Systems Technology presently has a consensus rating of “Buy” and a consensus price target of $34.25.
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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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